The Letter Of Intent For Food Business is commonly used in Singapore's dynamic F&B sector as a preliminary step before entering into formal agreements. It typically precedes more detailed contracts when establishing restaurants, food manufacturing facilities, or other food-related ventures. The document addresses key considerations including licensing requirements under the Singapore Food Agency, intended business model, location details, and basic commercial terms. It serves as a roadmap for negotiations while allowing parties to conduct due diligence before making binding commitments.
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1. Intent Declaration: Clear statement of intention to establish/purchase/partner in food business
2. Parties Information: Details of all parties involved in the proposed transaction, including full legal names and registration details
3. Business Description: Overview of the proposed food business concept, operations, and scope
4. Key Terms: Principal commercial terms and conditions of the proposed transaction
5. Timeline: Proposed schedule for due diligence and deal completion milestones
1. Exclusivity Period: Terms of exclusive negotiation period, typically included when parties want to ensure exclusive discussions
2. Confidentiality: Non-disclosure provisions for sensitive information shared during negotiations
3. Due Diligence: Outline of required inspections and verifications, included when substantial investigation is needed
4. Conditions Precedent: Pre-conditions that must be met before proceeding with the transaction
5. Regulatory Compliance: Specific commitments regarding food safety and licensing requirements
1. Business Plan Summary: Brief overview of business concept, market analysis, and financial projections
2. Location Details: Information about proposed premises including address, size, and current condition
3. Licensing Requirements: Comprehensive list of required permits and licenses from SFA and other authorities
4. Initial Term Sheet: Preliminary commercial terms and conditions in detailed format
5. Key Personnel: List of key management and operational staff with their qualifications
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