In your case, assuming you`ve gone through the exploratory phase, it certainly seems like a contract would be better than a letter of intent. A short and simple contract can be fine, but there are some very important details that you want to sort out, for example, .B. which party is responsible for managing the funds raised for the program, what happens when more money is raised than necessary for the program, and how ownership of the program`s intangible assets is managed (e.B. the name of the program, documents created for the Program, as well as the Program`s website, social media and mailing lists). This is rarely what people have in mind when talking about a letter of intent. Usually, they imagine a short binding document that sets out in simple language what each party is obliged to do. It is indeed a treaty. A Memorandum of Understanding (MoU) is a kind of agreement between two or more (bilateral) (multilateral) parties. .