The Letter of Intent to Sell is a crucial preliminary document in Hong Kong's business landscape, commonly used before entering into a formal sale and purchase agreement. It serves as a roadmap for the transaction, outlining key commercial terms while typically maintaining non-binding status on most provisions. This document is particularly relevant in Hong Kong's dynamic business environment, where international commerce and local regulations intersect. The Letter of Intent to Sell is especially useful in complex transactions where parties need to document their preliminary understanding before committing resources to detailed due diligence and final documentation. It typically includes essential terms such as price, payment structure, timeline, and any specific conditions, while operating within Hong Kong's common law system and relevant statutory framework.
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1. Date and Parties: Opening of letter identifying sender and recipient with full legal names and addresses
2. Subject Line: Clear identification of the document as a Letter of Intent to Sell [Asset/Property]
3. Introduction: Brief opening paragraph stating the purpose of the letter
4. Asset Description: Detailed description of the asset/property being sold
5. Purchase Price: Proposed purchase price and any price adjustment mechanisms
6. Payment Terms: Structure and timing of payments, including any deposits
7. Timeline: Proposed timeline for completion of the transaction
8. Due Diligence: Overview of the due diligence process and requirements
9. Binding Nature: Statement regarding whether any terms are intended to be binding
10. Expiration: Validity period of the LOI
11. Signature Block: Space for signatures, dates, and company seals if applicable
1. Exclusivity: Period during which the seller agrees not to negotiate with other parties - include when exclusive negotiating rights are required
2. Confidentiality: Terms regarding the confidential treatment of information - include when not covered by a separate NDA
3. Conditions Precedent: Key conditions that must be met before proceeding - include for complex transactions
4. Break Fee: Penalties for withdrawing from the transaction - include in high-value transactions
5. Governing Law: Specific mention of Hong Kong law - include when dealing with international parties
6. Costs: Attribution of transaction costs - include when significant costs are anticipated
1. Asset Details Schedule: Detailed technical or legal description of the asset being sold
2. Price Calculation: Detailed breakdown of the purchase price calculation if complex
3. Timeline Schedule: Detailed timeline of key dates and milestones
4. Due Diligence Requirements: List of required documents and information for due diligence
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