Memorandum of Agreement
A written agreement, usually legally binding, through which two or more signatory parties agree to work together toward specific agreed-upon goals.
Memorandum of Understanding
A written agreement signed by two parties that does not legally bind the parties to action. Rather, both parties simply agree to work together toward an agreed-upon goal.
A program in which students spend a significant amount of time studying in each of two or more locations.
Multilateral Student Exchange
A reciprocal agreement among three or more participating institutions. Typically, in such exchanges the balancing of number of participants occurs across all the participants in the system, so that an outgoing student need not go to the same institution, or even the same country, as the incoming counterpart.