FAQ
Can I use a deal memo if both parties are in different countries?
Yes, but include a governing law clause to specify which jurisdiction’s laws apply, and consult a lawyer to ensure compliance with international contract standards. Deal memos aren’t legally binding in the same way as contracts, but they help clarify terms before formal agreements are signed across borders.
What if the project scope changes after the deal memo is signed?
Deal memos are living documents until the full contract is finalized. Clearly mark updates with dates and initials, and agree on any revised terms in writing. If changes are significant, consider amending the memo or drafting a follow-up document to maintain clarity and accountability.
Do I need to include confidentiality terms in a deal memo?
Yes, especially if sensitive details like budgets, creative ideas, or proprietary information are discussed. A short confidentiality clause (e.g., ‘All discussions remain private until a signed agreement is in place’) protects both parties while keeping the memo concise. For highly sensitive projects, attach a separate NDA if needed.
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