Home Page : Glossary : "M" : MOU

MOU

MOU: Memorandum of Understanding. A written document describing the roles and responsibilities of two (or more) parties on a particular venture. An MOU is less formal than a contract, but is often signed by the parties involved to indicate their agreement to the principles contained in the MOU. A MOU is sometimes a precursor to a formal agreement.

Can you add to this definition? If so please Report an Observation. Do you know of a relevant link to add under this definition? If so please Add a Link.