Memorandum of Understanding Template

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					A Memorandum of Understanding ("MOU") is a document that sets forth two or more
parties intent to enter into an agreement. An MOU is also known as a letter of intent or
term sheet. In this template MOU, the parties list the anticipated provision of services,
resources, and funding as envisioned in a final agreement. As drafted, this MOU is not
intended to be legally binding. This form contains both standard clauses and
opportunities for the use of optional terms and conditions making it fully customizable to
fit the needs of the parties.
                      MEMORANDUM OF UNDERSTANDING
      THIS MEMORANDUM OF UNDERSTANDING (the “Memorandum”) made this
______ day of _____________, 20_______, by and between ___________________ (“Partner
1”) and _____________________ (“Partner 2”) regarding ______________________
[Comment: enter brief description of particulars of project or collaboration].

    WHEREAS Partner 1 and Partner 2 have agreed to enter into an understanding in which
Partner 1 and Partner 2 will ______________________________ (the “Project”) [Comment:
enter particulars of project or collaboration];

    AND WHEREAS Partner 1 and Partner 2 desire to enter into this Memorandum, setting out
the terms, conditions, and services to be provided by such understanding and collaboration on the
Project below.

1. MISSION

    The Mission of this Memorandum is to provide the framework for the Project.

2. COOPERATION

   The Project activities and services shall include, but are not limited to
______________________________ [Comment: enter description of activities and/or
services to be performed by each of Partner 1 and Partner 2].

3. RESOURCES

    A. Partner 1 hereby agrees to provide the following resources in respect to the Project:

         (i)      ___________________________________________
         (ii)     ___________________________________________
         (iii)    ___________________________________________

    [Comment: User should add more lines for additional responsibilities if necessary]

    B. Partner 2 hereby agrees to provide the following resources in respect of the Project:

         (i)      ____________________________________________
         (ii)     ____________________________________________
         (iii)    ____________________________________________

4. FUNDING

    A. Partner 1 shall provide the sum of ______________ dollars ($_________) to fund the
       Project.



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    B. Partner 2 shall provide the sum of ______________ dollars ($_________) to fund the
       Project.

    C. Partner 1 and Partner 2 hereby agree that each of them shall not be liable for more than
       the amount each party contributes to the Project.

    D. Partner 1 and Partner 2 hereby agree that the funds shall be advanced by each of them
       upon execution of this Memorandum and such funds shall be managed by
       ____________________ [Comment: Insert name of managing person or entity].

5. LIMITATIONS

    A. This Memorandum will have no legal effect as it is not intended to be legally binding or
       to impose legal obligations on either Partner 1 or Partner 2.

    B. Neither Partner 1 nor Partner 2 shall be responsible for the actions of any third parties or
       associates who may be involved in any activities outlined in this Memorandum.

6. DURATION

    A. This Memorandum shall come into effect on the Date of Execution by each of Partner 1
       and Partner 2, and shall remain in full force and effect for a period of ________
       [Comment: Insert desired period of time], unless extended by mutual agreement
       between the parties hereto in writing.

    B. Any amendments to this Memorandum are strictly prohibited, unless such amendments
       are agreed to by each of Partner 1 and Partner 2 in writing.

    C. This Memorandum may be terminated by either party hereto, upon ________ (__) days
       written notice by either party.




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   IN WITNESS HEREOF, the parties have executed this Memorandum as of the date first
above written,

    DATED this _________day of ____________, 20___.


   (PARTNER 1)
[Comment: Insert Name of Company]


Name:
Title:
I have authority to bind the Company.


or if Partner 1 is an individual



Name:
Title



   (PARTNER 2)
[Comment: Insert Name of Company]


Name:
Title:
I have authority to bind the Company.


or if Partner 2 is an individual



Name:
Title




© Copy
				
DOCUMENT INFO
Description: A Memorandum of Understanding ("MOU") is a document that sets forth two or more parties intent to enter into an agreement. An MOU is also known as a letter of intent or term sheet. In this template MOU, the parties list the anticipated provision of services, resources, and funding as envisioned in a final agreement. As drafted, this MOU is not intended to be legally binding. This form contains both standard clauses and opportunities for the use of optional terms and conditions making it fully customizable to fit the needs of the parties.
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