Letter of understanding or you can call it the memorandum of understanding is a document binding all the terms and conditions of any particular thing. This letter contains the text which describes the agreement between two different parties. It means if you already made a deal in an unofficial way then this letter will help you in reminding the other party about your deal. The memorandum of understanding between two partners contains all the terms and conditions that the other party can accept or reject your offer. In short, the request letter for memorandum of understanding can not be enforced by law, it is just a letter of your understandings.
Letter of Understanding:
A letter of understanding will help you in clarifying if both the parties are ready to make a deal or not. You have to create a peaceful, professional, and gentle letter so that it will have a positive impact on the other person/party. This is the memorandum of understanding meaning and you can check some mou sample which will help you in creating your own letter. You can also download and customize these letter of understanding template word and mou letter sample in the way you want.
Some people are really confused about the difference between the memorandum of understanding and agreement. Let’s have a look over the properties of both.
- The agreement is enforced by law and the mou is not enforced by law.
- You don’t have your sustainable rights in mou but you do all your rights in the agreement.
- The mou is the first stage of the formation of any final contract and the agreement is the final stage for making the contract.
It is not that tough to format a mou. All you need to do is to follow up on the right procedure that will lead you towards a perfect mou structure. Creating an eye-catching mou design can prove very beneficial to you. Here is how you can format your own memorandum of understanding.
- At the top of the letter, you have to mention the main heading i.e the ‘letter of understanding’ or ‘the memorandum of understanding’.
- After this, you have to mention the name of the person whom you are sending the letter, the name of the organization along with their address.
- After this, you have to mention the date and then you have to move forward towards the salutation.
- After writing the salutation, it is time for the body section of the letter. In this, you have to explain all the necessary things, terms, and conditions of your deal.
- After this, thank the reader for giving their precious time to read your letter.
- At last, you have to provide your signature and seal.
This is how you can format your own mou / lou. It is not a difficult task though, but you have to prepare it carefully. Make sure that you read your letter twice and try to avoid errors as much as possible. You can also download and edit these samples above according to your needs.