Out of the given options, which agreement is less formal than a standard contract but still holds significance for all the parties involved?

A memorandum of understanding (MOU) is a type of agreement that is typically not legally binding, and its purpose is to benefit all parties involved without involving the courts or monetary compensation. A service level agreement (SLA) defines the level of service that a customer expects from a service provider and should include precise and measurable definitions for each area. A business partnership agreement (BPA) is a legal pact between partners that outlines the terms, conditions, and expectations of their relationship. An interconnection security agreement (ISA) is an agreement that outlines the technical and security requirements of the interconnection between organizations.