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Replace Alternative Choice in the Memorandum Of Understanding

Replace Alternative Choice in the Memorandum Of Understanding

Aug 6th, 2022

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How to Replace Alternative Choice in the Memorandum Of Understanding

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Union contracts for local government agencies can last up to three years or longer. During negotiations for a new agreement following a contract expiration, certain issues may arise that necessitate discussions between the agency and the union. To address these matters while the contract is still valid, a Memorandum of Understanding (MOU) may be created. An MOU is a formal signed agreement that amends the existing collective bargaining agreement and addresses specific issues that surfaced during the contract term, representing a mutual understanding between the involved parties. Other terms for MOUs include Memorandum of Agreement (MOA), Letter of Understanding (LOU), or Letter of Agreement (LOA). Typically, employers and unions prefer using an MOU instead of redrafting an entire existing contract.

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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

What is the difference between an MOU and a Lou?

LOI is commonly used to define the points that have been agreed between a buyer and a seller prior to finalizing the deal with a contract signed by both parties. MOUs are used to define the parameters under which parties in agreement will work together, which is often in the form of a joint venture or partnership.

How legally binding is a memorandum of understanding?

A memorandum of understanding is an agreement between two or more parties outlined in a formal document. It is not legally binding but signals the willingness of the parties to move forward with a contract. The MOU can be seen as the starting point for negotiations as it defines the scope and purpose of the talks.

Can an MOU be changed?

Amendments or supplements to this MOU may be proposed by the parties and shall become effective upon written approval of all Parties.

Can memorandum of understanding be amended?

Amendment: For example; the memorandum of understanding may be amended on the initiative of either party by submitting a proposed amendment in writing to the other party and agreement of that party to the amendment.

What should be included in a memorandum of agreement?

MOAs must contain, but are not limited to: a listing of the parties involved; a purpose/statement of work; terms and conditions; appropriate bilateral signatures; duration of agreement; and. any payment terms or special provisions as applicable.

Can a memorandum of understanding be changed?

This Memorandum of Understanding is the complete agreement between and and may be amended only by written agreement signed by each of the parties involved. The MOU must be signed by all partners.

How often should MOU be updated?

For MOUs executed annually, they should be resubmitted, reviewed, and approved by your Program Specialist annually.

What is the alternative for memorandum of understanding?

A memorandum of agreement, or MOA, is an alternate term for memorandum of understanding.

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