memorandum of understanding
You’ve been negotiating with the other side and have finally nailed down most of the terms. You want to memorialize those terms in a preliminary agreement or memorandum of understanding, but make everything subject to a final written formal document in case you still can’t agree on the final terms....
Regulatory: The Obama administration agrees to expedite development of Great Lakes offshore wind projects
The Obama administration has taken the first regulatory action toward development of offshore wind energy projects in the Great Lakes by entering into a Memorandum of Understanding (MOU) with certain states bordering the Great Lakes to expedite environmental review of proposed projects.
Joining forces, the U.S. Department of Labor (DOL) and the Internal Revenue Service (IRS) recently announced a Memorandum of Understanding (MOU) to coordinate efforts to resolve employer practices of misclassifying employees as independent contractors.
Competition authorities sign a formal agreement to bring greater transparency.