MOU Full Form | Full Form of MOU
MOU Full Form - Memorandum of Understanding
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Memorandum of Understanding
- MOU stands for Memorandum of Understanding. It’s a proper agreement between two or more parties which expresses the mutual accord on a problem.
- It’s commonly employed by the businesses to determine official partnerships.
- Though it's mostly not a legally binding contract, it contains all important details and features a high degree of mutual respect and seriousness.
- It are often considered because the initiative to a legal contract. In the US, it's also called a Letter of Intent (LOI).
- It's widely used in international agreements because it are often created and ratified during a short time-frame. It's also wont to modify the existing legal deals.