Memorandum Of Cooperation
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MEMORANDUM OF COOPERATION
This Memorandum of Cooperation (”MoC”), is made and entered into as of [EFFECTIVE DATE], by and
BETWEEN: [PARTY A] (the “Company”), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at:
[YOUR COMPLETE ADDRESS]
AND: [PARTY B], an individual with his main address located at [SPECIFY] OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at:
[COMPLETE ADDRESS]
PURPOSE AND SCOPE
The purpose of this Memorandum of Cooperation (MoC) is to provide for a framework of cooperation and determine specific working arrangements between the Parties as well as to establish a communication channel, with a view to effectively cooperate in matters of common interest, in particular the field of activities identified in this MoC, based on the principles common interest, reciprocity and complementarity.
Cooperation between the Parties encompasses in particular, but is not limited to, the following areas, in accordance with the respective mandates of the Parties [SPECIFY ALL POINTS THAT BOTH PARTIES AGREED UPON]:
LEGAL NATURE
2.1. This MoC is a statement of intent and does not create any enforceable rights or obligations. The Parties will fulfil their tasks under this MoC on a best-effort basis;
2.2. This MoC does not modify or supersede any national laws nor does it affect any provisions under other multilateral or bilateral agreements in force and applicable to the Parties;
2.3. There will be no third-party beneficiaries to this MoC.
BACKGROUND
[Brief description of the parties involved in the MoC with mention of any current/historical ties to this project]
[PARTY A] RESPONSIBILITIES UNDER THIS
MoC
[PARTY A] shall undertake the following activities: [SPECIFY AND EXPLAIN]
[PARTY B] RESPONSIBILITIES UNDER THIS
MoC
[Party B] shall undertake the following activities: [SPECIFY AND EXPLAIN]
CONFIDENTIALITY
Each Party will ensure that information received on the basis of this MoC will be treated in accordance with applicable laws and regulations governing the processing and release of information. Sharing of information shall safeguard the legitimate rights of third parties, including their Intellectual Property rights. When exchange of data that is not publicly available takes place, confidentiality requirements shall apply as foreseen in the Parties’ founding legal acts or other relevant legislation and the Parties respect each other’s confidentiality policy. Unauthorised use and processing of data provided by a third party for the benefit of another party shall not be allowed.
APPLICABILITY, AMENDMENT AND TERMINATION
7.1. The Parties will begin to cooperate under the framework of this MoC as of the date of last signature by either Party;
7.2. This MoC may be amended at any time with the written consent of both Parties;
7.3. This MoC may be terminated by either Party by providing three (3) months’ written notice to the other Party. IN WITNESS WHEREOF, the Parties have signed this MoC in two (2) original copies of which each Party has received one copy:
Signatures and dates
[insert name of Party A] Date
_________________________________ __________
[insert name of Party B] Date
_____________________________________ __________