What Is a Memorandum of Understanding (MOU)?
A memorandum of understanding is an agreement between two or more parties outlined in a formal document. It is not legally binding but signals the willingness of the parties to move forward with a contract. The MOU can be seen as the starting point for negotiations as it defines the scope and purpose of the talks.
After all these years why is ARU only at the starting point of negotiations???
Ann: Arafura and Hyundai Motor Company sign non-binding MoU, page-26
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