![]() This legally binding document sets out the roles and responsibilities of all parties involved and can be used to avoid costly litigation, should any disputes arise. Also note: This is not legal advice IntroductionĮntering into a business deal without a Memorandum of Understanding (MOU) in place is risky. Are you ready to create your memorandum of understanding? Create an MOU template with a trial of DocuSign eSignature.Note: Links to our free templates are at the bottom of this long guide. Remember to seek legal advice if you have any questions or concerns. Start writing your Memorandum of Understandingĭrafting a clear memorandum of understanding can be a critical step in establishing a future partnership. However, MOU elements such as the acceptance of an offer, the intention to be legally bound or even an exchange involving payment can make it contractually binding in law court. Like the letter of intent, the Memorandum of Understanding is not a legal document. Here’s a step-by-step guide to using eSignature. If you use eSignature, your document can be signed within minutes. Signature - You should add a signature to the template to allow all interested parties to sign.Other terms and conditions- You may wish to use other clauses such as a method for termination, intellectual property rights, a non-disclosure agreement, or steps for dispute resolution.Ensure there is clarity on how the parties will collaborate and communicate throughout the duration of the agreement. Clearly define the tasks, deliverables, and timelines expected from each party. Specify the responsibilities and contributions of each party involved in the agreement. ![]() Explain which roles are to be performed and who will perform them. Terms of Agreement - This defines what each party will bring to the agreement.Ensure that both parties are aligned in their understanding of the scope and objectives of the MOU. Be specific and concise to avoid ambiguity or confusion. Clearly state the objectives and goals you aim to achieve through the collaboration. In this section, outline the scope of the agreement by defining its boundaries and limitations. Define the Scope and Objectives - Define the agreement's purpose in more detail. ![]() This section should also state the intent to form a relationship between the parties and outline the purpose of the MOU. Provide the full legal names, addresses, and contact information of each organisation or individual.
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