Memorandum of understanding

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1. Law.

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.

See also