The memorandum can then be used as a reference point to guide negotiations towards a final agreement. The memorandum may be made binding or non-binding on the Contracting Parties, depending on the agreement. If a more detailed contract is needed, consider some of our other available templates, including: if the memorandum is not legally binding, there is no law that applies directly to it. However, the interpretation and understanding of the agreement between the parties may apply to general principles of contract law, as provided for by the common law. Once the memorandum is finalized and it is a binding document, it must be printed on a court stamp document or an electronic filing document and signed and dated by all parties to the memorandum. The value of the buffer paper depends on the state in which it is executed. Each state of India has provisions regarding the amount of stamp duty to be paid on such agreements. Information on stamp duty can be paid on the websites of the Land Government. For example, the website of the state of Karnataka provides details on the stamp duty to be paid on the agreements, as well as the Delhi website.

Each party who signs the party can have their signature certified by an independent adult and then keep a copy of the memorandum for their own reference. In addition, even in the case of non-binding memoranda, the parties may make confidentiality obligations mandatory, as they may share sensitive and confidential information with other parties so that they can conduct further investigations or due diligence obligations before completing all the details of the project. If the memorandum is not binding, the parties may also sign a separate, binding confidentiality agreement. Write down the details of each part and the project they are interested in. If the parties have specific responsibilities regarding the project, details of those responsibilities may also be included. For example, if one party receives information about calculations relevant to the project, while another party receives information about appropriate marketing strategies, these responsibilities can be described in the document. This memorandum can be chosen as legally binding or not. In the first case, the memorandum acts as a general agreement between the parties, which covers the broad understanding of the parties. Often, the parties may sign a memorandum of understanding that sets out a general agreement, and then leave and do further research before elaborating the finer details. If it is chosen as non-binding, the parties may not be required by law to comply with it. This is because in many cases the parties may not be sure of the specific conditions they may agree, but they nevertheless find it useful to document something, outline some broader objectives (such as the general nature of the project) and confirm that they will act in good faith to pursue those objectives. In the end, you will get it in Word and PDF format.

You can change it and reuse it. This memorandum may be used at an early stage in negotiations between the parties. In some cases, the parties may also use it as a final agreement, but in some cases, a more detailed specific contract may be more appropriate. . . .