What is a Memorandum of Understanding?
A Memorandum of Understanding (MoU) is a nonbinding agreement between two or more parties outlining the terms and details of an understanding, including each parties’ requirements and responsibilities. An MoU is often the first stage in the formation of a formal contract.
What is a Memorandum of Agreement?
A Memorandum of Agreement (MoA) formalises a collaboration with a partner. An MoA serves as a legal document and describes the terms and details of the partnership agreement. The Agreement sets out the terms of the arrangement for the management and monitoring of the collaboration.
What is a Service Level Agreement?