MOU (Memorandum of Understanding)
A Memorandum of Understanding (MOU) is a legally non-binding agreement between two or more parties that outlines an understanding and the agreed-upon terms and conditions for collaboration on specific activities. It is often used in procurement processes to provide clarity regarding the roles, responsibilities, and expectations of each party before an official contract is signed. An MOU provides a formal framework for the relationship, outlining tasks, timelines, financial obligations, and any other details required to ensure successful collaboration.
