MOU (Memorandum of Understanding)

MOU (Memorandum of Understanding)

A Memorandum of Understanding (MoU) is a legal document which serves as a declaration between two or more parties. MOU is the primary step of signing any legal agreement which states that the common course of action has been agreed upon. MOU is not legally operative until it identifies the contracting parties, addresses the subject matter, includes the necessary terminologies and duly signed by all the contracting parties.