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Approximately six months before expiration, both parties will discuss expiration or renewal, based on an assessment of the continuing value of the agreement to both parties. A memorandum of understanding or mou takes place between two or more parties, and is often used as an agreement to officially build or establish a business partnership. This memorandum of understanding is for use between two or more parties that are interested in working together on a particular project. A memorandum letter or simply known as memo is a letter containing a statement that is usually written by higher authorities of an organization for the purpose of sharing information. You can free download memorandum of understanding template to fill,edit, print and.
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