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Source: http://www.thestar.com.my/business/business-news/2017/05/20/mous-are-just-mous/

Summary

non-binding agreements

- effectively agreements between two parties agreeing to work together in a project of common interest in the future
- MoUs come with schedules for the completion of certain obligations. However, if the schedules are not met, there are no penalties incurred.

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