A Non Binding Letter Of Intent Template is commonly used in the initial stages of business negotiations under English and Welsh law. It serves as a strategic tool to document preliminary understanding between parties before committing to a formal, binding agreement. The document typically includes proposed terms, timelines, and any specifically binding provisions while maintaining overall flexibility. It's particularly valuable in complex transactions where parties need to establish clear communication and understanding before proceeding with detailed due diligence and final agreements. The template helps parties align their expectations while preserving their ability to negotiate and modify terms.
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1. Opening Statement: Date, parties' details, and clear statement of non-binding nature
2. Transaction Overview: Brief description of proposed transaction or relationship
3. Key Terms: Principal commercial terms being considered
4. Timeline: Proposed schedule for negotiations and completion
5. Non-Binding Nature: Express statement that the LOI is non-binding except for specific provisions
1. Exclusivity: Period during which parties agree not to negotiate with others (if required)
2. Confidentiality: Terms regarding protection of confidential information (if not covered by separate NDA)
3. Cost Allocation: How transaction costs will be handled (if relevant)
4. Due Diligence: Framework for information sharing and verification (for complex transactions)
1. Term Sheet: Detailed breakdown of key commercial terms being considered
2. Timeline Schedule: Detailed timeline of key milestones and deadlines
3. Contact Details: Key personnel and their contact information for both parties
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