Brussels, 09 Jan 2003
Subject: Draft Memorandum of Understanding for the implementation of a European Concerted Research Action designated as COST Action A22 "Foresight Methodologies ­ Exploring New Ways to Explore the Future"
The Signatories to this Memorandum of Understanding, declaring their common intention to participate in the concerted Action referred to above and described in the Technical Annex to the Memorandum, have reached the following understanding:
1. The Action will be carried out in accordance with the provisions of document COST 400/01 "Rules and Procedures for Implementing COST Actions", the contents of which the Signatories are fully aware of.
2. The main objective of the Action is to develop certain aspects of foresight methodology so as to ensure systematic use and optimum benefit specifically in the areas of identifying seeds of change, integrating narratives and numbers, and interaction between researchers, decision makers, and the public.
3. The economic dimension of the activities carried out under the Action has been estimated, on the basis of information available during the planning of the Action, at Euro 6.5 million per year in 2002 prices.
4. The Memorandum of Understanding will take effect by being signed by at least five Signatories.
5. The Memorandum of Understanding will remain in force for a period of four years, calculated from the date of first meeting of the Management Committee, unless the duration of the Action is modified according to the provisions of Chapter 6 of the document referred to in Point 1 above.