Memorandum Of Understandings
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MEMORANDUM OF UNDERSTANDING
This Memorandum of Understanding (”MOU”), is made and entered into as of [EFFECTIVE DATE],
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] (PARTNER/RESELLER], 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 MOU is to clearly identify the roles and responsibilities of each party as they relate to [ SPECIFY]. In particular, this MOU in intended to [SPECIFY OR DESCRIBE THE WAY IN WHICH THE PARTIES WILL COLLABORATE].
BACKGROUND
[Brief description of the parties involved in the MOU with mention of any current/historical ties to this project]
[PARTY A] RESPONSIBILITIES UNDER THIS MOU
[PARTY A] shall undertake the following activities: [SPECIFY AND EXPLAIN]
[PARTY B] RESPONSIBILITIES UNDER THIS MOU
[Party B] shall undertake the following activities: [SPECIFY AND EXPLAIN]
UNDERSTANDING
S
It is mutually understood and agreed by and between the parties that [SPECIFY AND EXPLAIN ALL THE POINTS AND ASPECTS THAT BOTH PARTIES AGREED UPON LIKE PRODUCTS/SERVICES, QUANTITY, PRICE, DURATION, MODIFICATION, TERMINATION, ETC]
DURATION
This MOU is at-will and may be modified by mutual consent of authorized officials from (list partners). This MOU shall become effective upon signature by the authorized officials from the (list partners) and will remain in effect until modified or terminated by any one of the partners by mutual consent. In the absence of mutual agreement by the authorized officials from (list partners) this MOU shall end on (end date of partnership).
FUNDING
This MOU does (does not) include the reimbursement of funds between the two parties.
ARBITRATION
Any dispute arising with regard to any aspect of this Agreement shall be settled through mutual consultations and agreements by the parties to the Agreement.
EFFECTIVE DATE AND SIGNATURE
This MOU shall be effective upon the signature of Parties A and B authorized officials. It shall be in force from (date)_____ to (date) _____.
Parties A and B indicate agreement with this MOU by their signatures.
Signatures and dates
[insert name of Party A] Date
____________________________________ ________________
[insert name of Party B] Date
____________________________________ ________________