Author Topic: Memorandum of Understanding (MoU)  (Read 1868 times)

Reyed Mia, Daffodil

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Memorandum of Understanding (MoU)
« on: March 27, 2018, 04:23:35 PM »
Memorandum of Understanding (MoU)



A memorandum of understanding (MOU or MoU) is a formal agreement between two or more parties. Companies and organizations can use MOUs to establish official partnerships.


MOUs are not legally binding but they carry a degree of seriousness and mutual respect, stronger than a gentlemen’s agreement. Often, MOUs are the first steps towards a legal contract. In US law, a memorandum of understanding is synonymous with a letter of intent (LOI), which is a non-binding written agreement that implies a binding contract is to follow.

MOUs are popular in multinational international relations because, unlike treaties, they take a short time to ratify and can be kept confidential. MOUs may also be used to modify existing legal treaties.

http://whatis.techtarget.com/definition/memorandum-of-understanding-MOU-or-MoU
Reyed Mia (BBA and MBA in Finance)
Assistant Director
Daffodil International University
Manager, Bangladesh Venture Capital Ltd.
102/1, Shukrabad, Dhanmondi, Dhaka-1207.
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Email: reyed.a@daffodilvarsity.edu.bd