MEMO OF UNDERSTANDING

A memo of understanding records any agreements made during a meeting. It is sent to all attendees and other parties, like senior managers, who must keep informed of the results. It states the objectives of the meeting as well as when and where it occurred. It also identifies who agreed to what.

Several advantages accrue from a memo of understanding. First, it cements agreements and reduces misunderstandings. Second, it serves as a historical record of the agreements made. Third, it serves as a source document for subsequent actions. Finally, it reduces finger pointing since it reduces the opportunity for people to accuse others of not abiding by their agreements.

for Developing a Memo of Understanding

• Date the memo.
• Identify all the addresses, including direct recipients and those receiving courtesy copies.
• Identify the subject in a few simple words. In the text, record the most important information first, followed by the least important.
• Sign the memo along with your phone number, mailstop, and E-mail address so that others can contact you.