The Non-Binding Letter of Intent To Purchase Business is a crucial preliminary document used in Belgian business acquisitions to outline the proposed terms of a potential transaction before proceeding with detailed due diligence and definitive agreements. It serves as a roadmap for negotiations while explicitly maintaining its non-binding nature, except for specific provisions like confidentiality. Typically used after initial discussions but before detailed due diligence, this document helps align parties' expectations and provides a framework for the transaction process. Under Belgian law, while the document is primarily non-binding, certain principles of good faith in negotiations must be observed. The letter typically includes proposed purchase price ranges, transaction structure, timeline, due diligence scope, and any exclusivity arrangements.
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1. Sender and Recipient Details: Full legal names and addresses of both parties
2. Date: Date of the letter
3. Subject Line: Clear indication this is a Non-Binding Letter of Intent
4. Introduction: Brief introduction of the parties and purpose of the letter
5. Target Business Description: Clear identification and description of the business being considered for purchase
6. Proposed Transaction Structure: Outline of the proposed purchase structure (asset vs. share purchase)
7. Purchase Price and Payment Terms: Indicative purchase price range and proposed payment structure
8. Due Diligence: Outline of the proposed due diligence process and timeline
9. Key Conditions: Major conditions that would need to be satisfied for the transaction to proceed
10. Timeline: Proposed timeline for due diligence, negotiations, and closing
11. Non-Binding Nature: Clear statement that the letter is non-binding except for specific provisions
12. Binding Provisions: Specific provisions that are intended to be binding (confidentiality, exclusivity if applicable)
13. Next Steps: Outline of the immediate next steps in the process
14. Closing: Signature blocks and formal closing of the letter
1. Exclusivity Period: Optional section requesting exclusive negotiation rights for a specific period - include when exclusivity is desired
2. Break Fee: Optional section specifying any break fees - include when there's significant due diligence cost
3. Employee Matters: Optional section addressing key employee retention or transition - include when employee retention is crucial
4. Financing: Optional section outlining proposed financing structure - include when financing arrangements are material
5. Key Asset Schedule: Optional section listing key assets included - include when specific assets are crucial to the deal
6. Regulatory Approvals: Optional section addressing specific regulatory requirements - include when regulatory approval is significant
1. Schedule A - Key Assets: Preliminary list of key assets included in the proposed transaction
2. Schedule B - Initial Due Diligence Request List: Preliminary list of documents and information required for due diligence
3. Schedule C - Proposed Timeline: Detailed timeline with key milestones and deadlines
4. Schedule D - Confidentiality Terms: Detailed confidentiality provisions that are binding
5. Appendix 1 - Corporate Structure: Current and proposed post-transaction corporate structure diagrams
6. Appendix 2 - Key Terms Summary: Summary of key commercial terms for easy reference
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Technology
Retail
Financial Services
Healthcare
Real Estate
Professional Services
Energy
Transportation
Telecommunications
Construction
Agriculture
Hospitality
Media and Entertainment
Environmental Services
Relevant Teams
Legal
Finance
Corporate Development
Mergers & Acquisitions
Strategy
Executive Leadership
Business Development
Risk Management
Compliance
Tax
Treasury
Corporate Secretariat
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Chief Legal Officer
Managing Director
Corporate Development Director
Head of Mergers & Acquisitions
Business Development Manager
Investment Director
General Counsel
Finance Director
Strategy Director
Board Member
Company Secretary
Transaction Manager
Due Diligence Manager
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