Sign Hawaii Banking Memorandum Of Understanding Now

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Sign in Hawaii Memorandum Of Understanding for Banking

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Initial memorandum of understanding template

hi everybody I'm let me know Patrick welcome to day 17 of our 90-day grant writing tutorial today I want to talk to you about the difference between a memorandum of understanding and the memorandum of agreement the reason why this is important to talk to you about is because if you are a program with a nonprofit organization that hopes to expand and to grow there will come a time that your project will be at a scale that will require you to have other community partners engaged to fulfill your objective so when that happens and you start applying for larger grant awards especially from the federal government then you will need to know how to put together and Memorandum of Understanding or a memorandum of agreement and there are some slight differences so that's what I want to talk to you about today a Memorandum of Understanding is basically a legal document but it's not a binding contract it lets the power of a contract it's basically an intention a stated intention of a common line of action between two parties but it's not necessarily a commitment to do something so it's a statement of an intention between two parties of what they will do to help accomplish the overall goal of your program or your project so it's a bilateral agreement between the two parties but it's not a legal commitment and the other thing is that it's usually does not involve a monetary exchange a memorandum of agreement is indeed a legal contract and it's a binding agreement so this is an official commitment between two parties to obtain a particular objective around your grant award so for example if you are say a mental health agency and you provide a specific type of service to your clients into your your patients well there's a different type of service that you need to provide that your organization does it do so you in turn decide that it would be good idea to sell contract with another local agency to provide that specific service well you can then stay in this agreement that a pun award of this grant that you would work up to you know refer maybe up to fifty thousand dollars or some other sum of money to this organization to provide that particular service so unlike a memorandum of understanding and MOA which is commonly referred to and MOA does often include a monetary exchange so that's just one example of what that monetary exchange would be so this is a commitment and this is a legally binding contract between the two parties so I hope that that helps you understand the difference between an MoU and an MOA because hopefully if you expect your program to grow and to expand then this is something that you will eventually have to work out for a particular grant and you want to make sure that you're using the type of agreement that's most appropriate for the type of services an arrangement that you're trying to work out with your particular partner okay so I hope that you have been found this helpful and if you have any questions or comments as always please leave your comment here in our YouTube channel also hope your subscribe to the channel that way you will get immediate notification whenever I upload a new video I also send out weekly updates letting you know what's coming up that week in each day's tutorial so you can get a sneak peek on what's ahead in order to do that though I need you to go over to my website www consulting com as a gift to you for subscribing I'm going to send you a grant writers toolkit which has a lot of little things that are helpful to a new grant writer including a proposal template sample budget sample letters of commitment letters of support and also just some references and some links and some websites that will be very helpful to a beginning grant writer while you're on the side make sure you check out my bio and my experience and sort is that our offer and let me know if there's anything I can do for you or your organization I hope you guys have found this helpful I look forward to seeing you back for tomorrow's tutorial until then bye

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