Pre Agreement Contracts are essential in complex commercial transactions under Singapore law where parties need to establish ground rules before entering detailed negotiations. This document type typically precedes more comprehensive agreements and helps protect confidential information, set negotiation parameters, and clarify parties' intentions. As a Pre Agreement Contract, it includes key terms such as exclusivity periods, confidentiality obligations, and cost allocation during the negotiation phase, while ensuring compliance with Singapore's legal framework and commercial practices.
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1. Parties: Identification and details of all parties involved in the pre-agreement
2. Background: Context and purpose of the pre-agreement, including the parties' intentions
3. Definitions: Key terms and their meanings as used in the document
4. Purpose and Scope: Clear statement of what the pre-agreement covers and aims to achieve
5. Duration: Timeline for the pre-agreement and conditions for extension
6. Confidentiality: Obligations regarding confidential information exchange
7. Governing Law: Specification of Singapore law as governing law
1. Exclusivity: Terms of exclusive dealing between parties - use when parties agree not to negotiate with others during the pre-agreement period
2. Cost Allocation: How costs during the pre-agreement phase will be shared - use when significant costs are expected during negotiations
3. Break Fee: Compensation if one party withdraws from negotiations - use in high-value transactions or where significant resources are committed
4. Intellectual Property: Protection of IP rights during negotiations - use when sensitive technical or proprietary information will be shared
1. Contact Details Schedule: List of key contacts and their details for each party
2. Timeline Schedule: Proposed timeline for negotiations and key milestones
3. Information Requirements: List of required information and documents to be exchanged
4. Term Sheet: Key commercial terms under discussion
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