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A memorandum of agreement is a legal document describing a business partnership between two parties that agreed to cooperate to meet an agreed objective. A Memorandum of Agreement (MOA) is a written document describing a cooperative relationship between two parties wishing to work together.Use this totally free 2022 Memorandum of Agreement (MOA) template to document your cooperation on a project with another party. An MOA details the obligations and commitments of the parties and allocates and minimizes each party's risks. A memorandum of agreement generally looks different from a contract. What is a Memorandum of Agreement? A Memorandum Agreement is a useful placeholder that helps you outline terms for nearly any kind of new business relationship. Memorandum of Agreement (MOA) is a "conditional agreement" between two or more parties where the transfer of funds for services are anticipated. CML is obligated to take the electricity and make the contract payments for the full 15-year term. •, There are no up-front payments.