Or you can take the easy way and download a statement of intent here. Then you just have to add personal terms of sale to the document. MOAs are used for everything from pre-employment contracts to the purchase of a home, to major research and development projects in industry and science, even for entrepreneurs working on DIY projects. A Memorandum of Understanding (MOA) is a written document describing a cooperative relationship between two parties wishing to work together on a project or achieve an agreed goal. An MOA serves as a legal document and describes the terms and details of the partnership agreement. An MOA is more formal than an oral agreement, but less formal than a contract. Organizations can use an MOA to conclude and draw cooperation agreements, including service partnerships or technical assistance and training agreements. An MOA may be used regardless of whether or not funds should be exchanged under the agreement. Download this Free Memorandum of Understanding (MOA) below and tailor it to your individual business needs. Use this model if you want to close a transaction (e.g.
B purchase, partnership, employment) with another person or entity and have an understanding of the agreement before concluding the details. It is essentially a relationship that can be formalized after negotiations and that both parties do their due diligence. Many organizations use MOAs to outline and conclude cooperation, partnership, service or training agreements or technical assistance agreements. The money does not need to be exchanged as part of an MOA. Each party can terminate this MOA and any related agreement, work plan and budget at any time and for any reason, by communicating in writing to the other party days in advance; However, if [PARTNER] does not fulfill any of its obligations under this MOA, PARTNER has the right to terminate this MOA and all related agreements, work plans and related budgets immediately after written notification. During the development, both parties can determine the important aspects of their agreement. Before creating a soft model, each part would begin with a planning phase.