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Memorandum of Understanding

Features & Restrictions of Memorandum of Understanding:

  • Date of Agreement should be mentioned along with the period for which the MOU shall be effective
  • MOU should specify the name and other details of the parties who are signing the MOU
  • Purpose and goals of MOU should be clearly specified in the MOU
  • MOU should mention the person who will be authorized to make the decisions in various areas
  • Activities to be performed under MOU should be detailed along with the resources required and to be contributed by the parties to the MOU
  • Conditions under which terms of MOU can be terminated, altered or amended should be stated
  • MOU should be signed by all the parties or their authorized representatives