Memorandum of Understanding MOU Legal Translation Dubai
A Memorandum of Understanding commonly referred to as a MoU is a document that binds a mutual understanding of two or more parties. It commonly states the commitments and the negotiations taken place between the parties and is signed after confirming and accepting the negotiations. Memorandum of Understanding are usually signed when a big transaction takes place or about to take place. MoU protects the mutual agreement between the parties legally and it is usually a go ahead or a green signal to proceed with the transaction. The MoU is mainly used in buying or selling properties, buying or selling market shares of a company, assets etc. Memorandum of Understanding is usually valid for a specific amount of time in which the both parties have to complete the transaction and complete the commitment made on the given MoU.
A Memorandum of Understanding is also used in international deals where both parties make a specific commitment and make later follow the stated commitment.
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