Agreement

Memorandum of Understanding

A Memorandum of Understanding that records the mutual intent and broad terms agreed between two parties prior to executing a definitive agreement.

MEMORANDUM OF UNDERSTANDING

This Memorandum of Understanding is made on [Date] between [Party A Name], having its office at [Address] ("First Party"), and [Party B Name], having its office at [Address] ("Second Party").

  1. Purpose. The parties intend to explore and record their mutual understanding regarding [Purpose / Proposed Collaboration] and the broad terms on which they may work together.
  2. Scope of Understanding. The First Party shall [Role of Party A] and the Second Party shall [Role of Party B], as more particularly detailed in the discussions between the parties.
  3. Roles & Responsibilities. Each party shall bear its own costs and deploy such resources as are reasonably required to give effect to this understanding.
  4. Non-Binding Nature. Save for the clauses on Confidentiality, Governing Law and Dispute Resolution, this MOU is a statement of intent and does not create any legally binding or financial obligation on either party.
  5. Confidentiality. Each party shall keep confidential all information exchanged under this MOU and shall not disclose it to any third party without prior written consent.
  6. Exclusivity. During the term, the parties [shall / shall not] negotiate a similar arrangement with any third party in respect of the subject matter hereof.
  7. Term. This MOU shall remain in force from the Effective Date until [End Date] or until superseded by a definitive agreement, whichever is earlier.
  8. Definitive Agreement. The parties shall endeavour to negotiate and execute a formal binding agreement within [Number] days of this MOU.
  9. Governing Law & Jurisdiction. This MOU shall be governed by the laws of India and subject to the exclusive jurisdiction of the courts at [City].
  10. Dispute Resolution. Any dispute shall first be resolved amicably, failing which it shall be referred to arbitration under the Arbitration and Conciliation Act, 1996, seated at [City].

IN WITNESS WHEREOF, the parties have signed this Memorandum of Understanding on the date first written above.

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For [Party A Name]
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For [Party B Name]
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Witness 1
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Witness 2

Before you use it — fill in / check

  • Party 1
  • Party 2
  • Scope/consideration
  • Effective date

How to use this template

  1. Read through and replace every [bracketed] or blank placeholder with your actual details.
  2. Delete any clause that doesn't apply and add anything specific to your situation.
  3. Click Print / Save as PDF to download, or Copy text to paste into your letterhead.
  4. Get it signed / stamped / notarised as required, and keep a copy for your records.

This is a general, editable template for convenience only — not legal advice. For anything material, have a professional review it. TaxClue isn't liable for how it's used.