Download these 9 Free Sample Memorandum Agreement Templates to assist you in preparing your own agreement in a very short period of time. You can also browse through our collection of Loan Agreement Templates and Operating Agreement Templates.
Before embarking on a mutual project or a joint venture, two individuals or companies do not just begin working together. Instead, the first step is a formal agreement which is signed by the authorized representatives of all the involved parties. Such an agreement contains the specifics about the project or joint venture, as well as any other necessary information. The document is called a Memorandum Agreement (MOA).
Key Parts of a Memorandum Agreement:
The most important part of a Memorandum Agreement is where the purpose of creating this contract is explained. This agreement can be written and signed between two organizations, public and government departments, or even two individuals but in either case, it is crucial to include the relevant details in the agreement including the name of the parties and a detailed explanation of the project or work that both parties agreed to work on. If financial rights and obligations are involved in the process, this agreement will also include the details of the rights and obligations from the perspective of each party. In the same manner, this agreement should also indicate the date from which the contract will be considered effective. At the end, there should be a specific part in the agreement that includes contact information and details of all parties involved in the process.
This agreement defines duties, tasks, and responsibilities allocated to each of them in a single project, which is another valuable part of the Memorandum of Understanding. In relation to a basic transaction between two people only specific tasks that must be done by each person may be indicated here while in view of corporate or inter-company deals for cooperating on some joint venture, this section should be concise and descriptive. Therefore, all areas of responsibility must be outlined so that one knows what results are anticipated from performing various obligations as well as what each party’s function is within the scope of the project.
Free Sample Memorandum Agreements
Here is a preview of This First Sample Memorandum Agreement Template created using MS Word,
Source: hhs.gov
Here is a preview of another Sample Memorandum Agreement Template created using MS Word,
Here is a preview of another Sample Memorandum Agreement Template created using MS Word,
Here is a preview of another Sample Memorandum Agreement Template created using MS Word,
Here is a preview of another Sample Memorandum Agreement Template created using MS Word,
Source: ccvs.org
Here is a preview of another Sample Memorandum Agreement Template created using MS Word,
Source: cdc.gov
Here is a preview of another Sample Memorandum Agreement Template created using MS Word,
Source: energy.gov.za
Here is a preview of another Sample Memorandum Agreement Template in PDF Format,
Source: doc.govt.nz
Here is a preview of another Sample Memorandum Agreement Template in PDF Format,
When this agreement is written and signed between two companies for a joint venture or project, there won’t be any need to include payment-related details but when this agreement is signed between a client or company and a service provider vendor or supplier, it is vital to include the details of payments here. To make sure that all the information is included in the agreement, this contract should mention the amount of money owed by someone or either party, the method of payment, installments of the periodic payment schedule, and relaxation for the creditor in case he fails to submit the payment on time. Another important part of this payment schedule is the explanation of the milestones or actions that will require an immediate payment from the client i.e. as soon the vendor delivers goods or supplies, the client will make the payment.
Whether the parties are planning to respect the agreement and follow the terms and conditions in all circumstances, there are many possibilities that without knowing, either party will breach the contract or will violate a clause unintentionally. This can lead to a very serious matter where the other party can ask for mediation or sudden cancellation of the agreement. In order to make sure that both parties respect each other’s rights and follow their obligations, there should be a specific part in the agreement that describes what will happen if the contract is breached by either party. If they both agree that the agreement violation should be resolved by a third party or mediator, it should be mentioned in the agreement as well.
