The Letter Of Intent Cooperation Template is a crucial preliminary document used in Singapore business contexts when parties wish to formalize their intention to explore potential collaboration while maintaining flexibility. It serves as a stepping stone towards a more detailed agreement, allowing parties to outline key terms and expectations without creating full contractual obligations. Under Singapore law, this document typically includes provisions for confidentiality, scope of proposed cooperation, and timeline for negotiations, while clearly stating its non-binding nature except for specific provisions. It's particularly valuable in complex business arrangements where parties need to demonstrate serious intent while still conducting due diligence and detailed negotiations.
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1. Date and Parties: Identification of all parties involved and the date of the letter
2. Purpose Statement: Clear statement of intent to explore cooperation and the general objectives
3. Scope of Cooperation: Detailed overview of proposed collaboration areas and activities
4. Non-Binding Nature: Express statement about the non-binding nature of the LOI (except for specific provisions)
5. Duration: Timeframe for exploration of cooperation and validity of the LOI
1. Confidentiality: Terms for handling confidential information - include when sensitive information will be shared during discussions
2. Exclusivity: Terms for exclusive negotiations - include when parties want to prevent parallel negotiations with other parties
3. Cost Allocation: Distribution of costs during exploration phase - include when significant costs are expected in the exploratory phase
4. Next Steps: Outline of process forward - include when specific milestones or steps are already identified
1. Initial Project Outline: High-level description of proposed cooperation and key objectives
2. Proposed Timeline: Indicative schedule for exploration and implementation phases
3. Contact List: List of key personnel from each party involved in the cooperation discussions
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