These issues can include such things as the final price, any terms, how and when delivery will occur, and, of course, the specific products and services that will be provided. The memorandum of understanding MOU is the document that is created to allow both parties to confirm that they truly have reached an agreement.
This of course leads us to one of the fundamental questions that needs to be answered: Most negotiators would like the negotiation to be over once an agreement has been reached.
Once created, the MOU will prevent the other side from trying to change the terms of the agreement. After you have created the MOU, pause for a moment. You should always try to be the person who writes the actual MOU. Everything that was detailed in the MOU needs to have found its way into the final contract.
Experienced negotiators know that creating the MOU is the final important step. Do not try and get all fancy when you are creating an MOU. Instead, use this time to have your team take a look at it. If you do this correctly, then your MOU will make it very difficult for either side of the table to change their minds after the negotiations are over.
What this means for you is that you can leave these issues out of the MOU. You need to keep in mind that one of the jobs of the MOU is to assist the teams that will be tasked with writing the final contract to understand what the thinking of both sides of the table was when the agreement was reached.
Your MOU is what is going to prevent you from signing a contact that does not contain everything that you originally agreed to. It must cover all of the important parts of the negotiated agreement including the final price, the products or services that will be provided, and how they will be delivered.
You need to sit down and review the final contact while reading the MOU. How does one go about using this document? The answer is you. Once the final contract has been written, the value of the MOU will become very clear.
This is important because in every negotiation, there are issues that may not have been quite resolved. If any of these agreements were reached by using outside resources, such as key documents, industry specifications, or procedures, then these will be referenced by the MOU.
Any errors or omissions that they find can be corrected before you present the MOU to the other side and this will help you to appear to be more credible If you are the one who was charged with writing the MOU, then you will be the one who controls what goes into the MOU.
If written correctly, an MOU should capture the agreements that both sides of the table were able to reach regarding a number of different issues. Realize that the fundamental purpose of an MOU is to create a document that has the same legitimacy that an oral agreement would have.
Creating an MOU that will be agreeable to both sides of the table is actually much harder than it looks. Do not immediately present the MOU to the other side of the table.Does the lawyer you’re writing the memo for have a particular way they prefer memos to be drafted? Then write the memo exactly the way the want it.
Ask their assistant, they’ll likely know. Or does your firm have a default memo template? Then you should disregard everything below and conform to the template. Aug 01, · Checklist for Writing a Business Memo. Create a Thesis. Before writing, identify your thesis, or argument. William Cronon has created an excellent guide to forming a thesis.
Structure. Choose a “Mode of Arrangement” to present your argument. The most relevant include the analysis and compare-contrast formats.
The Good Memo Checklist: A quick checklist to run through before sending a memo. By following this quick checklist, you can turn a Long & Boring Memo into a Quick & Effective Memo!
So before sending a memo, just remember to follow these quick guidelines: Make sure the action you’re requesting is worthy of an entire memo. How To Write A Good Memorandum Of Understanding. by drjim on January 18, Free subscriptions to The Accidental Negotiator Newsletter are now available.
Learn what you need to know to do the job. Good Negotiators Know The Importance Of A Memorandum Of Agreement .Download