A Memo is used to communicate an important announcement and/or news among staff members in a department or organization. Such documents help people remain up to date with current company affairs. A memo template helps anyone to quickly create professional yet creative memos quickly and efficiently. Memorandum is described as …Read More »
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The people or the organizations when interact with each other or plan to interact on a mutually agreed objective, they draft an agreement known as MOU which is considered as a written agreement between them.
As everybody knows that memo is a document that is drafted for the basic purpose of communication between the employees with the boss or the managers of the same organization. But sometimes, an agreement between two or more than two parties are also held and that agreement is known as memorandum of understanding. An MOU can be used by different companies for the purpose of establishing the official partnerships as well. The memorandum of understanding do not contain any characteristics of legal binding, but they carry a degree of seriousness as well as mutual respect. These also help in making the agreement between the parties much more stronger.
Usually towards any legal contract, the MOU is the initial and the most important step. Mostly in the multinational international relations, the memo of understanding are found much more common because they take a limited time for ratifying and keeping it confidential as compared to the treaties. These agreements are also used for modifying existing legal treaties. As memorandum of understanding has become very common, they have been also used in domestic purposes as well for the agreement between the nations. Some of these agreements are so general and some are seen concise, totally depends on the nature of the agreement. Some agreements are also found long winded with extreme detail in it. although, the length and complexity of these agreement does not matter. The purpose of the memo of understanding is to specify all the mutually accepted expectations between two or more than two people or the organizations that are involved together towards any common objective.