Enquire Now
Memorandum of Understanding

MEMORANDUM OF UNDERSTANDING

Memorandum of understanding is document which requires well drafted and proper description of the parties intention to work together. Get your MOU ready from our best experts.

GET YOUR MOU DRAFTED NOW

    What is meant by Memorandum of Understanding?

    A memorandum of understanding (MOU) refers to a non-binding agreement stating each party’s intentions to take action, conduct business, or form a new entity. This is also referred as a letter of intent (LOI) or memorandum of agreement (MOA). A Memorandum of Understanding is entered into when parties have mutually agreed to enter into a contract; however the formalities of the contract are yet to be negotiated by the parties.

    DOCUMENT REQUIRED FOR DRAFTING

    Details of Parties & witnesses
    Details of Parties & witnesses

    Identity proof and Address proof of parties involved & witnesses.

    Contact details of authorized person
    Contact details of authorized person

    Email ID & Mobile Number.

    Related Information
    Related Information

    Any required information to be used for creating the draft.

    Supporting documents
    Supporting documents

    Any referential or supporting documents for the draft.

    HOW WE WORK

    Fill the form and make payment of nominal fee.

    1. Fill the form and make payment of nominal fee.

    Our experts will call you and collect documents.

    2. Our experts will call you and collect documents.

    Make rest fee payment.

    3. Make rest fee payment.

    Drafting of documents as per requirement and sending documents for approval.<span>Single time change is allowed(if any).</span>

    4. Drafting of documents as per requirement and sending documents for approval.Single time change is allowed(if any).

    Final documents will be shared by our experts.

    5. Final documents will be shared by our experts.

    Congratulation your draft is ready!!

    BENEFITS OF WELL DRAFTED MEMORANDUM OF UNDERSTANDING

    Serve as a Legal proof

    Written document act a documentary evidence and serve as a legal proof in the court of law.

    Show Professionalism

    Proper and correct drafting of documents give a sense of professionalism and create a serious impact over the involved parties.

    Reduce chances of dispute

    A well drafted documentation lead to clarity of the facts and laws. It reduces the chances of dispute which may occur due to oral discussions or roughly drafted documents.

    Prevent Confusions

    Good documentation practices help to prevent time-consuming missteps and confusion for all the parties involved.

    What is the legal validity of Memorandum of Understanding (MOU)?

    A Memorandum of Understanding (MOU) is a common understanding document which describes the intention of the parties to work together. It does not constitute any legally enforceable obligation. MOU is used for a non-binding contract and serves as a basis for making a formal contract later-on.

    What are the key elements of the Memorandum of Understanding?
    1. Objective of entering into MOU
    2. Responsibilities of each party
    3. Manner of Reporting
    4. Support whether Technical and Financial
    5. Financial Consideration
    6. Person authorized for handling management,
    7. Duration of MOU
    8. Confidentiality Clause
    9. Restrictive Conditions leading to Termination of MOU,
    10. Extension possibility,
    11. Arbitration Clause
    12. Indemnity Clause