Memorandum of understanding (MoU) is a written document that outlines the plan of both negotiating parties, but is not enforceable by law. MoUs are much more formal than the usual handshake agreements that we usually do because it clearly encodes all arrived decisions, expectations, rights, and responsibilities of both parties. Unlike contracts, memorandum of understanding is less formal and includes minor intricacies and fewer details. Scroll down the page for more information about memorandum of understanding. You can also download templates and examples here for your future reference in writing MoU.
Negotiating is an innate skill that we all have. Since birth, we negotiated with our mothers every time we want something through our shifting behaviors. Growing up, we argue basically for the things that we want to acquire—we negotiate to attain what’s best for us. Are you planning to negotiate with someone without legal bindings? If yes, then you’re at the right site. This template lays out everything already; all you need to do is to fill out the highlighted parts. Grab a copy of this template by hitting the download button.
Before the era of technology, distance is a barrier in negotiation especially if the other party lives across the globe. Presently, Internet bloomed and social platforms such as e-mail and Facebook are already available and accessible, which makes negotiation easy. If you’re having an agreement with someone far-flung without forming any legal relations, a memorandum of understanding is the right document for you. You can both decide your obligations and expectations to the project that you’re both working on using the aforementioned social platforms. You can also download this template and use it in drafting your MoU before sending it to the other party to have it checked.
Successful entrepreneurs study a lot of factors such as the norm and season that may affect their business. Every businessman’s goal is to make their business flourish and enter the global market, and they need partners to meet such goal. A partnership agreement is made where both parties can benefit. Some companies prefer to have a formal yet not legally binding documents of the agreement. Check out this template if you are one of those businessmen or businesswomen who prefers the latter type of document.
The food industry is one of the most chosen business for the time being. Wherever you go, there are various food establishments that can satisfy your stomach. Franchising a restaurant would need a lot of documents—some prefer legal documents, others prefer formal. If you opt for formal document, this memorandum of understanding template is right for you. Grab a copy of this template by hitting the download button.
It is easy to agree and promise, but keeping promises is quite difficult. Time can fade the details of your agreement which can probably cause arguments. This is why memorandum of understanding is necessary, especially if a huge project is at stake. Download this template now if you’re planning to make an MoU. Just replace the highlighted parts with your information and you’re done.
A great way to communicate essential information to your partner organizations is through memos, but before claiming your partnership with a certain organization, you need to assure that both parties are clear with their intentions. The reason why there are contract signings is to have strong documents against each other if ever a party wishes to breach the mutual covenant. Nevertheless, some still prefer to have a memorandum of understanding as a formal document. You can download this example and use it for future reference if you wish to write an MoU.
Drafting is important especially if it is for documentation. If you’re asked to make a formal document, of course you will present a draft first. Before the submission of the final memorandum of understanding, drafts would only include the most important details such as the purpose of the MoU, and the roles and responsibilities of both parties. The draft would be checked by both parties for any additional information. If you are planning to make a memorandum of understanding yet you don’t have any idea how to make one, here is a simple example of its format and content.
Technical writing is more disciplined than creative writing because technical documents’ goal is to inform, inquire, remind, report, promote goodwill, and transmit information. Creative writers also inform their audience, but technical writers need to relay important information to their audience without being verbose. Memorandum of understanding is an example of a technical document.
Some reasons why universities usually partner with companies are to create conducive facilities for learning and to have a high-quality equipment from a trusted source. School administrators would want the best that they can provide to the students so they can produce highly competitive individuals in the workforce. If you want to know more about MoUs, you can download this example and use it for future reference.
Training program is a significant and a necessary way to enhance a person’s skills. If employers conduct training and seminars, employees who take part tend to be more productive and have better performance in their job than those who didn’t participate. Training coordinators and organizers usually look for partners to make the event successful. If you are planning to organize an event with someone, you can make a formal document such as memorandum of understanding that outlines your roles and responsibilities.
Construction projects can be seen anywhere, especially in the metro. Developers negotiate with the best contractors that can provide the preconstruction services needed for the project. Handshake agreements might be all right for small construction projects, but bigger projects with bigger money at stake need formal documents. The sample above is a memorandum of understanding between a developer and a contractor. Are you a developer holding a huge construction project? If yes, then this sample of memorandum of understanding would be your confidant.
John F. Kennedy once said, “You cannot negotiate with people who say what’s mine is mine and what’s yours is negotiable.” A good negotiation is not one-sided—it should always benefit both parties. Memorandum of understanding might not be as strong as contracts, but it is more formal than the usual gentleman’s agreement and it gives emphasis to mutual respect.