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Memorandum of Understanding

A Memorandum of Understanding (MOU) is a legal agreement among two or more parties. Companies and organizations use MOUs to establish an official partnership. Usually, MOUs are the initial steps towards a legal contract or an agreement. It is also known as the ‘letter of intent’, which is a non-binding written agreement that implies a binding contract to be followed.

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This agreement is signed between service providers and the clients to mutually agree
upon terms and conditions that govern all transactions.

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