Free Memorandum of Understandings Templates

Allow me to share these Free Memorandum of Understandings Templates in MS Word and PDF format to help draft your own Free Memorandum of Understandings Templates. You can also download our Executive Summary and Quotation Templates.

A Memorandum of Understanding, otherwise known as an MBA Memorandum of Understanding is a written document. You should submit them to the board of directors of a business organization in support of its application for registration or licensing. This form describes the purpose and manner of conducting business. These documents are mostly used by attorneys, insurance agents, and public accountants.

How to Format a Memorandum of Understanding?

A properly worded and formatted memorandum can help you present your case in the best possible way. When drafting it, be concise in identifying all the information that you want to include. It should be well-organized and well-referenced so that the result is a professional one. Formatting it in a way that is easy to review and understand can help you save time and effort while still conveying the message.

Search for a Template:

The templates are usually easily available on the internet. You just need to type “memorandum of understanding templates” in the search box of your favorite search engine. You will see a lot of choices. Choose the best one according to your requirement.

Most often these documents create an operating agreement. Operating agreements ensure cooperation between the members of the corporation. A Memorandum of Understanding allows them to work together peacefully by providing information on the correct manner of conducting business. Also included in the document are policies and objectives and document titles. It is advisable to put all these in separate files and to use a single template for all these things.

Add Information:

Memorandum of Understanding templates usually has some standard information in them. Some may have a provision for additional information such as the name of the company, its e-mail address, and telephone number. This makes it easy for the other members of the corporation to contact them in case there is any problem or question. This also avoids the risk of the company being sued by any individual or organization that has incurred losses due to the actions of its directors or employees.

Include Description of Services:

Another standard feature is a section where the description of the services offered by the company is stated. This is to provide information on the range of services that the company offers and to make sure that the members are aware of what they will be getting from it. This is a very important part of the memorandum because without this the members will not be in a position to know what they can expect from the company and how they can get services from it.

Highlight some Clauses:

Highlighted some areas in the document to clarify the concern. The first two sentences should be the main points of the document. This should cover the nature of the agreement, the purpose, the date, and the parties involved in the document.

Before using a template for memoranda of understanding, it is important to verify the details provided. Most templates do not have section headings. They use bullet points only. This leads to the chance of overlooking some crucial details of the documents that need to be highlighted.

Avoid Spelling and Grammer Mistakes:

Templates may be useful for memoranda of understanding since they are convenient and easy to use. However, since these documents, one must take extreme caution in editing them. Errors in grammar and spelling should be avoided since this could lead to lawsuits and legal action. When documents are produced in bulk, they can be scanned by computer, which makes them editable.

While the use of memorandum of understanding templates can be of some help in constructing documents, they are not a substitute for good legal drafting. It is still necessary to use great care when drafting a Memorandum of Understanding. Just because one uses templates, it does not mean that the document would be approved without any change being made. Care must be taken to ensure that the contents of the document follow all the normal rules of English grammar and style.

Since most companies use the memorandum as a means of conveying information and not as a legal document, it is important to ensure that there are no grammatical errors. If there are any such errors, then the whole document would be rejected. Another thing to consider is the language. It must be clear and understandable. Using difficult language or slang would only confuse and, at worst, could lead to legal action being taken against the company.