A Memorandum of Understanding (MOU) Draft is a document outlining an agreement between two or more parties. It serves to define the terms and conditions of their cooperation, allowing for the exchange of goods and services for mutual benefit. MOU Drafts are often used in business contexts, as well as for international and inter-agency agreements. Such documents enable parties to come to an understanding without having to enter into a full-fledged contract. An MOU Draft should include information about both parties, a description of the agreement, and responsibilities, timelines, costs, and other details relevant to the arrangement. MOU Drafts are essential tools in ensuring that mutual expectations are met and misunderstandings avoided.