INTERNATIONAL TRADE - international trade negotiations and Memorandum of Understanding.
When two entrepreneurs begin to deal, trying to end a deal, talk, exchange messages, fax and e-mail, make phone calls, take notes, and sketch some aspects of the deal. In particular, in the field of international business, there is the practice of writing a 'letter of intent' (also called LoI), in which to try fixing some points on which an agreement has already been reached, highlighting others that , However, are still to be defined. Mutual benefits, rights and obligations of the parties and the price of the deal are thus outlined in a document, usually very simple and slim, which is called the "Memorandum of Understanding" in International Business Law and which is a sort of reminder to the actual conditions of the contract that will be concluded. The M.o.U. is, in short, the crystallization of negotiations, focusing confidently on meeting the will of future contractors on some of the profiles of their negotiating action, especially in cases where they do not intend to immediately elaborate detailed clauses.
