How to prepare MOU Memorandum of Understanding

A memorandum of understanding (MOU) is a document between at least two parties that explains the proposed agreement between them. It is a document that brings together the thoughts and expectations between the parties before they enter into a legally binding contract. 
A Memorandum of Understanding (MOU) is a short written statement outlining the agreement between two or more parties who agree to do or not to do certain things moving forward into the future.

Here are some points which you must keep in mind before preparing MOU 

1 Both parties name with their full details 
2 Purpose of making the MOU
3 Description of good and services 
4 How much advance will client or customer pay 
5 Refund policy 
6 Liability clause in case of loss 
7 Sign of both the parties 

Watch this video to know more about MOU in Detail