Common use of Scope of Memorandum of Understanding Clause in Contracts

Scope of Memorandum of Understanding. It is the intent and purpose of the Memorandum to set forth mutually beneficial working and economic relations between the parties hereto and to provide an orderly and peaceful means of resolving any misunderstandings which may arise, and to set forth the total and complete understanding and agreement between the parties regarding wages, hours, and other terms and conditions of employment.