Document background
The Memorandum Of Understanding Between Two Partners is commonly used in Singapore when parties wish to formalize their intention to collaborate but aren't ready for a definitive agreement. This document type is particularly useful in the initial stages of business relationships, where parties need to outline their shared objectives and basic terms of cooperation. Under Singapore law, while MOUs are generally non-binding, they can include specific binding provisions when explicitly stated. The document typically covers areas such as scope of cooperation, resource commitments, confidentiality, and intended duration of the partnership.
