Memorandum of understanding
A document setting out the main terms of a proposed contract.
Also known as a letter of intent.
Whilst it is not a formal contract, some of the terms may be enforceable.
Any other document setting out the terms of an agreement between organisations or individuals, not intended to be legally binding.
- International agreements for bank supervision
- "The Bank [of England] has a number of MoUs with international authorities to support collegiate/co-operative [bank] supervision."
- The Bank of England's supervision of financial market infrastructures - Annual Report - 2014 - p12.