A Letter of Intent to Sell Products is commonly used in Indian business transactions as a preliminary step before entering into a definitive sales agreement. It is particularly valuable when parties need to document their initial understanding while allowing flexibility for further negotiation and due diligence. The document typically includes key commercial terms such as product specifications, pricing indicators, delivery terms, and proposed timeline for finalizing the definitive agreement. Under Indian law, while most provisions are non-binding, certain clauses like confidentiality and exclusivity can be made explicitly binding. This document is especially useful in complex transactions where parties need to demonstrate serious intent, secure internal approvals, or initiate regulatory compliance processes before finalizing the full agreement. It provides a structured framework while maintaining flexibility for both parties to refine terms before final commitment.
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1. Date and Address Block: Formal business letter heading with date and recipient's address
2. Subject Line: Clear identification of the document as a Letter of Intent for product sales
3. Introduction: Identifies the parties and their roles (seller/buyer)
4. Background: Brief context of the discussions and relationship between parties
5. Product Description: Clear identification of products intended for sale
6. Commercial Terms: Key commercial aspects including proposed pricing, quantity, and delivery terms
7. Duration and Timeline: Proposed timeline for finalizing the definitive agreement
8. Non-Binding Nature: Clear statement that the LOI is non-binding except for specified clauses
9. Binding Provisions: Specifically binding clauses such as confidentiality, exclusivity, and governing law
10. Next Steps: Outline of the process toward definitive agreement
11. Closing and Signatures: Formal closing, signature blocks for both parties
1. Exclusivity Period: Used when parties want to negotiate exclusively for a specified period
2. Due Diligence: Include when significant due diligence is required before final agreement
3. Regulatory Approvals: Required when the transaction needs specific regulatory clearances
4. Break Fee: Include when parties want to specify compensation if negotiations terminate
5. Intellectual Property: Necessary when dealing with branded products or technology
6. Distribution Rights: Include when discussing territorial or channel-specific distribution rights
7. Minimum Purchase Commitments: Used when discussing volume-based arrangements
1. Product Specifications: Detailed technical specifications of the products
2. Preliminary Price List: Indicative pricing structure and terms
3. Proposed Timeline: Detailed timeline for negotiation and execution of final agreement
4. Required Certifications: List of necessary product certifications or compliance requirements
5. Territory Map: If the arrangement involves specific geographical territories
Authors
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Retail
Consumer Goods
Industrial Products
Technology
Pharmaceuticals
Automotive
Electronics
Food and Beverage
Textiles
Chemical
Agriculture
Medical Devices
Construction Materials
Energy
Relevant Teams
Legal
Commercial
Sales
Procurement
Business Development
Operations
Supply Chain
International Trade
Compliance
Finance
Strategy
Relevant Roles
Chief Executive Officer
Commercial Director
Sales Director
Procurement Manager
Business Development Manager
Legal Counsel
Contract Manager
Supply Chain Manager
Operations Director
Chief Commercial Officer
Purchasing Manager
Sales Manager
Export Manager
Import Manager
General Manager
Managing Director
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