Residency Foundations: Formalizing the Partnership through the Memoradum of Understanding (MOU) or Letter of Understanding (LOU)

Residency Foundations: Formalizing the Partnership through the Memoradum of Understanding (MOU) or Letter of Understanding (LOU) is a presentation that guides residency partners through the essential process of creating a legally-binding agreement to secure their collaboration. It details the important elements that must be included in an MOU/LOU, such as specifying the shared and individual responsibilities of each partner and outlining the annual review process to ensure the document remains current. Furthermore, this resource prompts partners to develop a value proposition that articulates the program's benefits to various stakeholders, strengthening the rationale for the program’s long-term sustainability.