Memorandum of Understanding

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MoU and Its Importance

A Memorandum of Understanding (MoU) is a record where more than two parties recognize that they comply on a set of generalpath of direction. It will outline the rights and obligations of all parties. This MoU is laid out in early stage of discussion between the parties. It does not have any authority and responsibility in itself. It acts as just a requisite. It acts as a basis for a future formal contract. To be lawfully functional, an MoU should recognise the consenting groups, define the business objectives of the contract, outline the important conditions and get it autographed by the consenting parties.

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Benefits of a MoU

Secures the Partnership

The MoU provides a great confidence to all the parties by ensuring that they are on same page. And it secures the partnership.With the high-level terms of the collaboration already thought through, the parties can then begin to focus on the remaining details of the deal.

Time Saving and less legal implications

MOU are non-binding written agreements specifying the roles and responsibilities of the parties involved in the agreement. They are usually less time consuming and avoid the legal implications as involved in a contract.

MoU Process

• 3 WORKING DAYS

  Our representative will contact you to understand your requirements, once you get in touch with us. We will also contact you if more details are needed. We will connect you to a verified lawyer once we get all the required information. Our lawyers who will prepare the draft and send it to you for review within 3 to 4 working days.

• 2 WORKING DAYS

  After reviewing the draft, if you have any clarifications or changes to make, the assigned lawyer will discuss it with you and implement them. Two rounds of such modifications will be provided at no extra cost.