MOU vs MOA The difference is dramatic:
An MOU can be agreeing to have lunch sometime next month whereas
An MOA will detail time, date, menu, who is to pay, tax deductibility, restaurant, chef, server, tip allotment and penalty if other party does not attend if all other considerations are met.
Basically an agreement is legally binding whereas an understanding is not.
If I am incorrect in any way, I would welcome enlightenment.
Regards,
FT