The Letter of Intent to Purchase is a crucial preliminary document used in Austrian business transactions when a potential buyer wishes to formally express their serious intention to purchase an asset, business, or property. This document serves as a stepping stone between initial discussions and a final purchase agreement, providing a structured framework for further negotiations while typically maintaining a non-binding nature except for specific provisions. Under Austrian law, while the Letter of Intent to Purchase is generally non-binding, it can create certain legal obligations under the principle of culpa in contrahendo, requiring parties to negotiate in good faith. The document typically includes proposed purchase price, basic terms, timeline, and any exclusivity or confidentiality requirements. It's particularly useful in complex transactions where detailed due diligence and negotiations are necessary before finalizing a binding purchase agreement.
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1. Letterhead and Date: Sender's company details, address, and date of the letter
2. Recipient Details: Full name, title, and address of the recipient
3. Subject Line: Clear identification of the document as a Letter of Intent to Purchase [Asset/Property/Business]
4. Introduction: Brief introduction of the sender and statement of intent to purchase
5. Asset Description: Clear identification and description of the target asset/property/business to be purchased
6. Proposed Purchase Price: Statement of the proposed purchase price or price range and payment terms
7. Key Terms: Outline of fundamental terms and conditions of the proposed purchase
8. Timeline: Proposed timeline for due diligence and transaction completion
9. Non-Binding Nature: Clear statement that the letter is non-binding except for specified provisions
10. Signature Block: Space for signature, name, and title of authorized representative
1. Due Diligence Requirements: Specific requirements for due diligence process, used when detailed investigation of the target is needed
2. Exclusivity Period: Request for exclusive negotiation rights, included when exclusivity is desired
3. Confidentiality Provisions: Binding confidentiality terms, included when separate NDA is not in place
4. Financing Contingency: Details about financing requirements, included when purchase depends on securing funding
5. Broker/Advisor Information: Details of any intermediaries involved, included when relevant
6. Governing Law Statement: Explicit reference to Austrian law governance, included in international transactions
1. Preliminary Asset List: Detailed list of assets included in the proposed purchase
2. Initial Due Diligence Checklist: Preliminary list of documents and information required for due diligence
3. Proposed Timeline: Detailed schedule of key dates and milestones
4. Term Sheet: Summary of key commercial terms in bullet point format
Relevant legal definitions
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Healthcare
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Industrial
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Relevant Teams
Legal
Finance
Corporate Development
Mergers & Acquisitions
Real Estate
Procurement
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Executive Leadership
Investment
Risk Management
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Strategy
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Chief Executive Officer
Chief Financial Officer
Managing Director
Business Development Manager
Corporate Lawyer
Real Estate Manager
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Procurement Manager
Property Manager
Mergers & Acquisitions Director
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Business Owner
Commercial Director
Asset Manager
Finance Director
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