This MOA may be terminated by mutual agreement between the parties and terminates automatically after the fulfillment of all the responsibilities set forth therein, unless otherwise modified. This Agreement shall enter into force on the date of the last Party that signed the MOA below. The parties accept this Memorandum of Understanding by their signatures below. PandaTip: A Memorandum of Understanding is a kind of cooperation agreement intended to document the understanding of certain parties (two or more) as to their cooperation in a project or in the achievement of a goal. Unlike a Memorandum of Understanding, it is more likely that a Memorandum of Understanding will impose certain obligations on the parties. PandaTip: This section presents a context in which the parties met. What is the added value of each party? What expertise or experience do they have that benefits the team as a whole? In particular, the two parties will work together to develop [THE PARTICULARITIES AND OBJECTIVES RELATED TO THE PROJECT]. [PARTY 1] has unique expertise and experience in the following areas: The purpose of this Memorandum of Understanding is to define the conditions, scope of activities and responsibilities of the Parties related to their cooperation in [DESCRIBE THE PROJECT]. [PART 1], an enterprise of [PARTY 1 STATE OF THE INBODY] WHOSE HEAD OFFICE IS LOCATED AT [PART 1 ADDRESS]; PandaTip: An alternative to the above termination clause is to allow any party to terminate, for convenience, with notice and/or for delay in certain circumstances. Be careful, however, as you might want some sort of minimum commitment, since you invest time and resources in cooperation. Both parties see the benefits of this project, have a desire to follow the project, and have found that each party brings unique expertise and experience necessary to achieve the above objectives. This Memorandum of Understanding (this “MOA” or “Memorandum of Understanding”) is established and concluded on [day] of [MONTH] [year] (“Date of Entry into Force”) by and between:.
Each party assumes legal and financial responsibility for the actions of its employees, senior managers, representatives, representatives and volunteers. Each party agrees to release, defend and hold the other party, to the extent permitted by law, from and against any and all claims, claims, actions, debts, losses, damages and expenses, including reasonable attorneys` fees, arising out of or resulting from the acts or omissions of the released party in connection with its participation in this agreement. and each party shall bear the proportionate cost of all damages caused by the fault of that party, its senior management, representatives, staff and independent contractors. The intention of the parties is that in the event of found guilt, the principles of comparative fault should be applied. It is mutually agreed by and between the parties that each party shall take out, at its sole expense and cost, insurance or self-insurance to cover its activities related to this MOA and to take out, maintain and maintain insurance or equivalent self-insurance programs in general liability, employee compensation and commercial civil liability, which, to cover its potential obligations,. . . . .