This Agreement shall enter into force on the date of the last Party that signed the MOA below. The parties accept this Memorandum of Understanding by their signatures below. PandaTip: A Memorandum of Understanding is a kind of cooperation agreement intended to document the understanding of certain parties (two or more) as to their cooperation in a project or in the achievement of a goal. Unlike a Memorandum of Understanding, it is more likely that a Memorandum of Understanding will impose certain obligations on the parties. This MOA may be terminated by mutual agreement between the parties and terminates automatically after the fulfillment of all the responsibilities set forth therein, unless otherwise modified. PandaTip: As stated in the first paragraph, a MOA imposes certain legal obligations. This section is quite clear. Here you want to indicate the responsibilities of each party in the partnership or cooperation. . In particular, the two parties will work together to develop [THE PARTICULARITIES AND OBJECTIVES RELATED TO THE PROJECT]. This Memorandum of Understanding (this “MOA” or “Memorandum of Understanding”) is established and finalized by and between PandaTip on [DAY] day of [MONTH] [year] (“Effective Date”): PandaTip: An alternative to the termination clause mentioned above is to allow each party to terminate comfortably with notice and/or delay in certain circumstances. Be careful, however, as you might want some sort of minimum commitment, since you invest time and resources in cooperation.
The purpose of this Memorandum of Understanding is to define the conditions, scope and responsibilities of the Parties in relation to their cooperation with [DESCRIBE COOPERATIVE PROJECT]. Both parties see the benefits of this project, have a desire to follow the project, and have found that each party brings unique expertise and experience necessary to achieve the above objectives. . It is understood and mutually agreed between the parties that each party assumes legal and financial responsibility for the actions of its employees, senior managers, representatives, representatives and volunteers. Each party agrees to release, defend and hold the other party, to the extent permitted by law, from and against any and all claims, claims, actions, debts, losses, damages and expenses, including reasonable attorneys` fees, arising out of or resulting from the acts or omissions of the released party in connection with its participation in this agreement. and each party shall bear the proportionate cost of all damages caused by the fault of that party, its senior management, representatives, staff and independent contractors. . . .