What is the purpose of the MOU?

The purpose of a memorandum of understanding (MOU) is to establish a common understanding between two or more parties regarding their intentions, objectives, and responsibilities in a particular agreement or collaboration. It serves as a preliminary agreement that outlines the broad terms and conditions under which the parties will work together towards a common goal or project. MOUs are often used in business, government, and international relations to lay the foundation for future negotiations or to establish ongoing cooperation. While not legally binding, an MOU provides a basis for further negotiations and can serve as a reference point if disputes arise.

This mind map was published on 19 December 2023 and has been viewed 87 times.