¶¶Òõ¶ÌÊÓƵ

The Memorandum Of Understanding Between Supplier And Buyer is a preliminary document used in the UAE business context to establish initial understanding and framework for potential business relationships. It serves as a stepping stone toward a more detailed, binding agreement while protecting both parties' interests during negotiations. This document type is particularly useful in the UAE market where business relationships often develop gradually and require formal documentation of preliminary commitments. It typically includes provisions for confidentiality, proposed commercial terms, and timeline for negotiations, while remaining generally non-binding. The MOU helps parties align their expectations and document their intentions while complying with UAE legal requirements and business customs. It's commonly used when parties need to document serious intent for collaboration but aren't ready for a binding contract.

1. Parties: Identification and details of the Supplier and Buyer, including full legal names, registration numbers, and registered addresses

2. Background: Context of the potential business relationship and purpose of the MOU

3. Definitions: Key terms used throughout the document

4. Purpose and Scope: Clear statement of the intended business relationship and scope of potential collaboration

5. Non-Binding Nature: Express statement that the MOU is generally non-binding except for specified clauses

6. Proposed Commercial Terms: Overview of key commercial terms including proposed pricing, delivery, and quality requirements

7. Duration and Termination: Period of the MOU and circumstances for termination

8. Confidentiality: Binding obligations regarding confidential information exchange

9. Exclusivity: Whether parties are restricted from similar negotiations with others during the MOU period

10. Costs and Expenses: Each party's responsibility for their own costs during the MOU period

11. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant courts

12. Notices: Process and contact details for formal communications between parties

13. Entire Understanding: Confirmation that the MOU represents the entire understanding between parties