There are 2 types of partnership agreements
- Formal – E.g. Contracts
- Informal – E.g. MOU
A memorandum of understanding (MoU) is a document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action. It is often used in cases where parties either do not imply a legal commitment or in situations where the parties cannot create a legally enforceable agreement.
A MOU can be:
A statement of good intent for partnership working
Or
A tool for actioning the partnerships to work
Advantages of an MOU :
- Increases profile and credibility to initiatives
- Improves communication between organization involved
- Allows joint responses to central government consultations
- Enhances the status that partners may give to joint work
Disadvantages of MOU:
- Can just be a broad statement
- Does not deal with the practicalities of day-to-day working
- If actions and timescales are not attached then won’t provide a framework for the achievement of outputs
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