MoU & its Policies
A memorandum of understanding (MoU) is a type of agreement between two (bilateral) or more (multilateral) parties.
A memorandum of understanding (MoU) is a formal agreement between two or more parties or organization outlining the terms and details of an understanding, including each parties requirements and responsibilities.
MOUs are not legally binding but they carry a degree of seriousness and mutual respect, stronger than a gentlemen’s agreement.
Terms and Conditions
- Duration – Include the date of initiation of MoU & a formal review date needs to be set.
- Name of the Parties entering in to the Agreement. (Between IFERP & University)
- Describe the Purpose or common objective (Conference, Publication, chapters, Association etc) for entering the MOU.
- Describe the expertise of each party.
- Describe the understanding between the parties including the service to be provided.
- Describe who will pay for service and how payments will be made.
- Describe the communication process.
- Describe Reporting/Recordkeeping Requirements.
- Provide for confidentiality assurance.
- Closing – The closing statement finalizes the agreement. Appropriate signatures and dates must be included. Each party retains a signed original.
Get Associated For Collaboration
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