Share to: share facebook share twitter share wa share telegram print page

Letter of understanding

A Letter of Understanding (LOU) is a formal text that sums up the terms of an undertakings of a contract which may have been negotiated up to this point only in spoken form or otherwise informally. It reviews the terms of an agreement for a service, a project or a deal and is often written as a step before a more detailed contract is issued.[1]

The LOU may provide for example:

  • Detailed summary of the work to be performed
  • Tasks of the service provider and the receiver
  • Milestones for the work to be done
  • Work steps that have been accomplished already

References

  1. ^ Belew, Shannon (2018). "Benefits of Developing a Written Consulting Contract". About.com. Consulting. Archived from the original on 2009-06-11. Retrieved 2010-10-25.
Prefix: a b c d e f g h i j k l m n o p q r s t u v w x y z 0 1 2 3 4 5 6 7 8 9

Portal di Ensiklopedia Dunia

Kembali kehalaman sebelumnya