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a memorandum of understanding (mou) is a formal agreement that outlines plans for a common line of action between two or more parties. mous are usually not legally binding and are less formal documents than a more-binding contract. these documents are usually created at the early stage of a relationship or initiative and do not involve an exchange of money. both are nonbinding, written agreements that imply a binding contract is to follow. in international law, an mou is a political mutual agreement between two or more parties.

a memorandum of understanding (mou) is a document between at least two parties that explains the proposed agreement between them. both an mou and a letter of intent can be used for diplomatic communication between the parties since it serves to ensure that those involved are on the same proverbial page. the key difference between an mou and a contract is how enforceable it is. the primary difference between an mou and a letter of intent is that a letter of intent is never legally binding.