{"id":146,"date":"2019-05-16T10:30:09","date_gmt":"2019-05-16T05:00:09","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=146"},"modified":"2020-01-16T15:40:58","modified_gmt":"2020-01-16T10:10:58","slug":"memorandum-of-understanding","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/memorandum-of-understanding\/","title":{"rendered":"Memorandum of Understanding(MOU)"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >In this article, we will discuss about...<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e73be;color:#1e73be\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e73be;color:#1e73be\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/aktassociates.com\/blog\/memorandum-of-understanding\/#What_is_the_Memorandum_of_Understanding\" title=\"What is the Memorandum of Understanding?\">What is the Memorandum of Understanding?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/aktassociates.com\/blog\/memorandum-of-understanding\/#Why_Memorandum_of_Understanding\" title=\"Why Memorandum of Understanding?\">Why Memorandum of Understanding?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/aktassociates.com\/blog\/memorandum-of-understanding\/#A_process_of_Creating_a_Memorandum_of_Understanding\" title=\"A process of Creating a Memorandum of Understanding\">A process of Creating a Memorandum of Understanding<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/aktassociates.com\/blog\/memorandum-of-understanding\/#Contents_of_Memorandum_of_Understanding\" title=\"Contents of Memorandum of Understanding\">Contents of Memorandum of Understanding<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/aktassociates.com\/blog\/memorandum-of-understanding\/#When_do_you_need_a_Memorandum_of_Understanding\" title=\"When do you need a Memorandum of Understanding?\">When do you need a Memorandum of Understanding?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/aktassociates.com\/blog\/memorandum-of-understanding\/#Disadvantages_of_MOU\" title=\"Disadvantages of MOU\">Disadvantages of MOU<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_is_the_Memorandum_of_Understanding\"><\/span><b>What is the Memorandum of Understanding?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A memorandum of understanding (MOU) is a\u00a0legal document\u00a0explaining the bilateral agreement amongst the parties. It is a convergence of will between the parties, indicating an intended common line of an act, rather than a legal commitment. Memorandum of Understanding is not legally binding document but they certainly carry a degree of seriousness and mutual respect, stronger than a gentlemen\u2019s agreement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A\u00a0<\/span><b>memorandum of understanding<\/b><span style=\"font-weight: 400;\">\u00a0(MOU) is a formal deal describing the broad outlines of an <\/span><b>agreement<\/b><span style=\"font-weight: 400;\">\u00a0that two or more parties have reached through negotiations.<\/span><span style=\"font-weight: 400;\"> It is not a legal <\/span><b>obligatory document<\/b><span style=\"font-weight: 400;\"> but it denotes the intention of all parties to move forward with a contract.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Usually,\u00a0Memorandum of Understanding\u00a0is the first step towards a\u00a0legal contract. In countries like the United States, a memorandum of understanding is identical with a letter of intent, which is a form of a non-binding written agreement that implies a binding contract is to come up. Memorandum of Understanding is admired in multinational international relations because they do not take a lot of time like treaties to get ratified instead they can be executed in a short time and can be easily kept confidential. Memorandum of Understanding can also be used for modifying existing treaties.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-564 aligncenter\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/mou.jpg\" alt=\"mou\" width=\"700\" height=\"400\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/mou.jpg 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/mou-300x171.jpg 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/mou-20x11.jpg 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, sometimes these are preferred over a contract.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Memorandum_of_Understanding\"><\/span><b>Why Memorandum of Understanding?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">One would think that way to put an effort into putting together a Memorandum of Understanding, that too when it is not an enforceable document. However, in some cases, it is mandatory to have a\u00a0Memorandum of Understanding,\u00a0for example when the housing authorities negotiate with tenants. Though the Memorandum holds a lot of potential power because of the time and energy invested in it because it is a sort of mutual agreement on which the parties reach after going thru the pros and cons of the deal. In these form of situations, the of a Memorandum of Understanding is very appealing because it\u2019s comparatively simple and direct and does not have complex and combative standard terms and conditions like a contract.<\/span><\/p>\n<p>MOU is also preferred because of the following reasons. It provides insights into the<br \/>\nfollowing:<br \/>\n\uf0d8 Clarifies the interest of each party<br \/>\n\uf0d8 Role of the party<br \/>\n\uf0d8 Decision-making powers<br \/>\n\uf0d8 Terms for future Amendments<br \/>\n\uf0d8 Non-Disclosures<br \/>\n\uf0d8 Non-Competence<br \/>\n\uf0d8 Confidentiality<br \/>\n\uf0d8 Profit-sharing<br \/>\n\uf0d8 financial ratio<br \/>\n\uf0d8 Exit clause<\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_process_of_Creating_a_Memorandum_of_Understanding\"><\/span><b>A process of Creating a Memorandum of Understanding<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The process is quite straight forward, usually, it starts with the planning or say by determining what they want or want the other party to do, what they are ready to negotiate on and the rationale of the memorandum of understanding, in other words, it spells out the common intentions of the parties;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">One the initial drafting is done the representatives of the parties must have a meeting to negotiate and also haggle over the terms of the memorandum;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Sometimes people prefer to mention the communication details of the parties and how their interests are linked;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Also the contact details of the representatives and their powers;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Also, describe the details of the methods of dispute resolution;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Time period since when till when the memorandum will be in effect etc.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">All these terms look same as of a contract but again the point is they are binding and Memorandum of understanding is not.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Contents_of_Memorandum_of_Understanding\"><\/span><b>Contents of Memorandum of Understanding<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Name of the Parties;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Address of the Parties;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Purpose of\u00a0Memorandum of Understanding;<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Roles and Responsibilities of parties:-<\/b><span style=\"font-weight: 400;\">\u00a0Clearly explain and delineate the agreed upon roles and responsibilities of each organization or agency. The roles and responsibilities must also align with project goals, objectives and target outputs. This may include time commitment, training, workshops, etc;<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Reporting Requirement:\u2013<\/b><span style=\"font-weight: 400;\">\u00a0Like which is report is to be submitted by which party and when;<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Funding:\u2013<\/b><span style=\"font-weight: 400;\">\u00a0That how the funds will be arranged;<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Time Frame:-<\/b><span style=\"font-weight: 400;\">\u00a0From when to when this Memorandum of Understanding will be in effect;<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Confidentiality:-<\/b><span style=\"font-weight: 400;\">\u00a0all parties to the memorandum of understanding should agree to adhere to the confidentiality \u00a0expectations ;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Memorandum of Understanding must be signed by all the partners and the signatories must be officially authorized to sign on behalf of the agency and include title and agency name.<\/span><\/li>\n<\/ul>\n<h2><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"When_do_you_need_a_Memorandum_of_Understanding\"><\/span><b>When do you need a Memorandum of Understanding?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A\u00a0Memorandum of Understanding\u00a0is generally used when you present a request for application involving collaborative partners that agree to offer a non-financial exchange that will enhance the project. It can be said as a medium for establishing partnership relation.<\/span><\/p>\n<p><b>For Instance: &#8211;<\/b><span style=\"font-weight: 400;\">\u00a0A work station for an out-stationed advocate and workshop for staff\/volunteers.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Disadvantages_of_MOU\"><\/span><b>Disadvantages of MOU<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The Disadvantage of MOU over the legally binding agreement is that When MOU gets scrutinized in the event of a discrepancy between the parties, maximum attention is given to the language. The language of an MOU must indicate a non-binding agreement avoiding all contractual formalities.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the Memorandum of Understanding? A memorandum of understanding (MOU) is a\u00a0legal document\u00a0explaining the bilateral agreement amongst the parties. &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Memorandum of Understanding(MOU)\" class=\"read-more button\" href=\"https:\/\/aktassociates.com\/blog\/memorandum-of-understanding\/#more-146\">Read more<span class=\"screen-reader-text\">Memorandum of Understanding(MOU)<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":326,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Memorandum of Understanding | Process AKT Associates<\/title>\n<meta name=\"description\" content=\"A memorandum of understanding (MOU) is a formal deal describing the broad outlines of an agreement that two or more parties have reached through negotiations. 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