On November 20, 2008, I attended a seminar on Licensing organized by the SSP (Society of Scholarly Publishing) in Washington DC. A presentation by Karla Hahn, Association for Research Libraries, focussed on SERU. SERU is not a standard license agreement but is a set of terms publishers and librarians/educators/researchers can use to base a relationship on when using digital content. Such use is based on recommended practises and would not be legally binding. It is an alternative to a license agreement and could be used for example when the time and money involved to access content is relatively small and a negotiated written license agreement would be more than is necessary in the circumstances. SERU is intended for U.S. content owners and users and according to Karla, there are no equivalent practises in Canada or other other countries.
See SERU at: http://www.niso.org/workrooms/seru.