Trade Agreement Memorandum Of Understanding

The mutual benefits, the rights and obligations of the parties and the price of the transaction are therefore described in a generally very simple and streamlined document, called a « memorandum of understanding » by international economic law and which constitutes a kind of reminder of the real conditions of the contract to be concluded. The M.O.O. In short, the crystallization of negotiations that confidently focus on the willingness of future contractors to respond to some of the profiles of their negotiations, especially in cases where they do not intend to immediately elaborate detailed clauses. It is not common for the US president and his senior trade representative to debate the intricacies of international law in front of the global press and senior Chinese officials in the Oval Office. .