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TeachMeFinance.com - explain Memorandum Of Understanding Memorandum Of Understanding The term 'Memorandum Of Understanding ' as it applies to the area of Medicare in the United States can be defined as ' An instrument used when agencies enter into a joint project in which they each contribute their own resources in which the scope of work is very broad and not specific to any one project; or in which there is no exchange of goods or services between the participating agencies'. The term 'Memorandum Of Understanding ' as it applies to the area of Medicare in the United States can be defined as ' A document providing a general description of the responsibilities that are to be assumed by two or more parties in their pursuit of some goal(s). More specific information may be provided in an associated SOW'. Previous 5 Terms: Melting Level Melting Point membral Membrane (diaphragm) Memorandum of agreement (MOA) Next 5 Terms: Memorandum of Understanding (MOU) Mendelian inheritance menisciform Meniscus mensal About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.