Memorandum of Understanding

Memorandum of Understanding

Prepared for:

[Partner]


Prepared by:

[Company]


Memorandum of Understanding

This Memorandum of Understanding, (hereinafter referred to as the “MOU”), is made on the effective date [Date]


By and Between


The Company [Company Name], (hereinafter referred to as the “Company”), having its principal place of business at [Address], and;


The Partner [Partner Name], (hereinafter referred to as the “Partner”), having its principal place of business at [Address]


Both the Company and the Partner are collectively referred to as the “Parties”, and “Party” individually


WHEREAS, both the Parties are interested in working together for [Mention the Purpose]


AND WHEREAS, this MOU sets forth the relationship between the Parties and certain understandings made concerning such a relationship


NOW, THEREFORE, in witness to the promises and mutual covenants contained herein, the Parties hereby agree as follows:

Terms and Conditions

1. Purpose

The Company and the Partner provide the necessary foundation that binds both the Parties in this MOU. The Parties intend to work together to encourage and support effectively and efficiently to achieve the objectives of the Company.

2. Objectives

The objectives as agreed upon between the Parties are as follows:


Both the Parties shall work together to achieve the purpose of the MOU.

The Parties shall contribute to all the necessary planning and development of the Company management to the fullest extent possible.

[Other Objectives]

3. Term

The term of this MOU shall commence on the effective date [Date] and will continue until [End Date] unless terminated by either Party.

4. Confidentiality

Both Parties agree that any information obtained before or during the term of this MOU shall remain confidential information. Neither Party shall disclose any such confidential information to any third party.

5. Arbitration

In the event of any dispute arising in and out of this MOU between the Parties, it shall be resolved by Arbitration. There shall be [Number of Arbitrators] Arbitrators which shall be appointed by [Party Name]. The venue of Arbitration shall be [Venue/Location of Arbitration] and Seat shall be of [State]. The Arbitrators’ decision shall be final and will be binding on both the Parties.

6. Miscellaneous

Severability: In the event, any provision of this MOU is deemed to be invalid or unenforceable, in whole or part, that part shall be severed from the remainder of this MOU, and all other provisions shall remain in full force and effect as valid and enforceable.

Governing Law: This MOU shall be governed in all respects by, and be construed in accordance with, the laws of State of [State].

Notices: Any notices required or permitted by this MOU shall be in writing and delivered by certified mail or courier to the above-mentioned address.

Force Majeure: Neither Party shall be liable for any loss or delay resulting from any force majeure event, including and not limited to the act of God, fire, natural disaster, labor stoppage, war, or military hostilities, or inability of carriers to make scheduled deliveries, and any payment or delivery date shall be extended to the extent of any delay resulting from any force majeure event.

Acceptance and Signature

IN WITNESS THEREOF, the Parties hereto have executed this MOU as on the day and year mentioned above:

Company

Partner

Signature

Assign signer 1

Name