The Letter Of Intent In Contract, as utilized in the United Arab Emirates, is a crucial preliminary document that bridges initial discussions and final agreements. It serves to memorialize the parties' intentions and establish key parameters for their proposed transaction or relationship. This document type is particularly relevant in the UAE business environment, where formal documentation of commercial intentions is highly valued. The LOI should comply with UAE Civil Code requirements and commercial practices, potentially incorporating both binding elements (such as confidentiality and exclusivity provisions) and non-binding elements (such as proposed commercial terms). It's commonly used during the early stages of mergers and acquisitions, real estate transactions, joint ventures, and other significant commercial arrangements where parties need to formally express their intentions while maintaining flexibility for detailed negotiations.
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1. Letterhead and Date: Company letterhead of the sending party and current date
2. Parties' Details: Full legal names and addresses of both the sender and recipient
3. Subject Line: Clear identification that this is a Letter of Intent regarding the specific proposed transaction
4. Introduction: Brief statement of intent to enter into negotiations and general purpose of the letter
5. Transaction Overview: High-level description of the proposed transaction or business relationship
6. Key Terms: Outline of fundamental terms and conditions being proposed
7. Timeline: Proposed schedule for negotiations, due diligence, and execution of definitive agreements
8. Binding/Non-binding Statement: Clear statement of which provisions are intended to be binding and which are non-binding
9. Closing and Signatures: Formal closing, signature blocks for both parties
1. Exclusivity Period: Used when parties want to ensure exclusive negotiations for a specific period
2. Confidentiality Provisions: Include when parties haven't already executed a separate NDA
3. Due Diligence Process: Required for complex transactions where significant due diligence is anticipated
4. Cost Allocation: Include when parties need to specify who bears the costs of negotiations and due diligence
5. Good Faith Deposit: Used when a preliminary deposit or evidence of financial capability is required
6. Governing Law and Jurisdiction: Include when parties want to specify applicable law and dispute resolution forum
7. Break-up Fee: Used in significant transactions where compensation for withdrawal needs to be addressed
1. Term Sheet: Detailed outline of key commercial terms and conditions being proposed
2. Timeline Schedule: Detailed timeline of key milestones and deadlines
3. Asset Schedule: List of assets involved in the proposed transaction, if applicable
4. Price Structure: Detailed breakdown of proposed pricing or payment terms
5. Required Approvals: List of regulatory or third-party approvals needed to complete the transaction
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Legal
Corporate Development
Business Development
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Mergers & Acquisitions
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