#AMENDMENT TO AN MOU TEMPLATE PDF#

Try to provide as much background as you can about the two parties and their reason for collaborating.īenefits of a memorandum of understanding It should also mention the date and the intent of the document. The MOU needs to introduce the two (or more) parties involved in the agreement. Here are the most important sections of this template and what they mean: Introduction and background Whether you are explaining your intentions or outlining the conditions of a transaction, a memorandum of understanding template can come in handy without binding either party to a legal agreement. Contents of a memorandum of understanding template It's also signed to indicate that the parties agree with the contents of the document. These documents show mutual acceptance, consideration, and the intention to enter into a legal agreement.Īlso known as a memorandum of agreement or letter of intent, an MOU is usually drawn up between people, organizations, or governments. However, they will also often be drawn up during business dealings that involve a lot of risk or/and money, such as mergers or acquisitions.Ī memorandum of understanding template can be used for major contracts that are in the planning stages.

Memorandum of understanding (MOU) documents are most commonly inked during international treaty negotiations. Why do you need a memorandum of understanding template?

This is where the memorandum of understanding template comes in. Once you start negotiations and reach an understanding, you need to demonstrate a willingness to commit to the agreement in question and show intent to move ahead. While it is not legally binding, this document broadly defines the agreement that you wish to undertake along with the mutually accepted expectations. You can modify it and reuse it.A memorandum of understanding template is required when at least two parties want to formalize an agreement.

#AMENDMENT TO AN MOU TEMPLATE PDF#

The document is created before your eyes as you respond to the questions.Īt the end, you receive it in Word and PDF formats. In order to do this, different copies can be signed, or if only one copy is signed, it can be photocopied and then distributed between the parties.Īmendment Agreements in India are subject to the Indian Contract Act, 1872 which covers general contract principles like formation and mutual understanding. For instance, the website of the state of Karnataka provides details of stamp duty payable on agreements, as does the website of Delhi.Īll the Parties may keep a signed copy of the Amendment Agreement. Information regarding the stamp duty payable can be found on the State government websites. Each state in India has provisions in respect of the amount of stamp duty payable on such agreements. The value of the stamp paper would depend on the state in which it is executed. The Amendment Agreement will be legally binding when it has been printed on non-judicial stamp paper or e-stamp paper and signed by all the parties to the original agreement and has been dated. This document can be used when the parties are getting ready to revise the terms of an existing agreement. In an amendment agreement, the most important details of the changes to the agreement need to be entered: things such as clause numbers which are to be amended and the details of the revision are to be specified. However, if the changes are easy to specify by way of an amendment, an amendment agreement would be a good way to take them forward. If the changes are substantial, and it would make it too complicated to read the two agreements together, it may be better to enter into a fresh agreement.

The amendment agreement can be used to amend any kind of contract such as Supply Contract, Loan Agreement, Services Agreement, Residential Lease or Commercial Lease etc.Īfter execution of an agreement, over a period of time, parties to a contract may reach some revised understandings and instead of entering into a fresh agreement, they may only need to revise the original agreement.

An amendment agreement is a document between parties to an original contract, who want to change or revise some terms of an agreement.

Amendment to an mou template