A Memorandum of Understanding Templates or in short an MOU is a formal agreement between two or more parties. Businesses and organizations usually use MOUs to develop official partnerships.Although memorandum of understanding are not legally binding, it is understood between the parties who are signing off on the document that they have agreed to carry out specific tasks in respect to each other and will be carried out with mutual respect towards each other. So we can say it is a little more binding than a gentleman’s agreement.
Now many first time users of the MOU are intimidated even by the title – Memorandum of Understanding! It implies something difficult to understand, implement and execute. While their perception might not be completely true, yes the language used in MOUs is of legal nature and sometimes tough to comprehend by a common man.
Unless you have practiced or studied law or have been using MOU formats for quite some time now, you cannot come up with the language required to execute a strong MOU between parties. Hence, it is usually carried out some more proficient like an accountant or a lawyer.
But if you want to master MOUs and save on costs and time, take a look at our collection of MOU templates that are ready to use and absolutely customizable. We are sure that our MOU templates will serve your need aptly.