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Pipelines, energy and natural resources

  • Thread starter Thread starter QV
  • Start date Start date
More 'talk' than 'walk'... a sad but familiar tale....

Why do people put so much stock in MOU's? They are just an understanding that eventually you'll get back together and continue to talk about the subject. Sure, that's an oversimplification, but not far off.

Key Highlights of an MOU.

  • A memorandum of understanding (MOU) is defined as an agreement between parties and can be bilateral (two) or multilateral (more than two parties).
  • In order to prepare a complete and effective document (MOU), the parties affected must first reach an understanding acceptable by each party and clear information on the important stances for each of those parties.
  • The MOU, although a formal document, is not legally binding. It merely shows the willingness of each concerned party to take action to move the contract forward.
 
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