This ensures the MOA is easily understood by all parties and guarantees they understand their obligations under the agreement. You want your MOA template to clarify any technical terms that are necessary and remove any that are not. Including clear definitions is an effective way to do this. Therefore, it's crucial to draft MOA templates with clarity for all participants. Just like other contract types, like Statements of Work, MOAs aren't exclusive to legal professionals they are also intended for non-expert parties involved in the agreement. To help you understand which elements should be incorporated when creating your Memorandum of Agreement template, we've laid out the typical elements of an MOA below. What are the elements of a Memorandum of Agreement template? Once the terms have been standardized and an MOA template has been approved, legal and finance departments can usually step back, as long as they have successfully equipped project managers to independently manage these agreements. Financial departments: responsible for endorsing the MOA template. ![]()
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