A company has been trying to implement a product with multiple challenges for more than two years. Both the company and the vendor mutually agree to cancel the project. Which of the following should be issued?
D
It would be appropriate to issue a C&D (cancellation and dissolution) document in this situation where a company and the vendor mutually agree to cancel the project. The C&D document is an important project management document that officially terminates a project and outlines the terms of the termination.
A Memorandum of Understanding is an agreement between two or more parties to form a
business partnership. It is not legally binding, but is more formal than a "gentlemen's agreement." It is used where the parties do not wish to enter into a formal contract, or when a legally enforceable contract cannot be created.
Similar to a memorandum of understanding, a letter of intent is a non-binding document that
outlines the agreement between parties before the official agreement documents are finalized and signed.
Comptia Study Guide:
Similar to a memorandum of understanding, a letter of intent is a non-binding document that outlines the agreement between parties before the official agreement documents are finalized and signed.
This is correct, the answer is B. Letter of Intent.
MOU's are typically shared prior to companies entering formal contracts, an LoI can be used similarly (not legal document, but an agreement), prior to the partnership being dissolved. Both parties intend on separating, this will be drafted first while the formal paperwork is processed.
Don't think it is cease and desist: cautionary letter sent to an alleged wrongdoer describing the alleged misconduct.
I am leaning towards MOU. It seems to make the most sense here, to me at least. Definitely not C or D here though.
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