A new Non-binding Letter Of Intent (LOI) has been added to our company and asset sale agreement templates.
In our current portfolio we have documents to cover heads of terms, exclusivity and confidentiality amongst other things. All of these documents are either fully or partially binding on the parties. However, some companies may prefer the flexibility and looser language of a non-binding LOI to a more formal heads of terms particularly for those in the early stages of discussions about a particular transaction.
We have therefore drafted a LOI in the form of a letter (rather than an agreement) that aims to establish the intent of the parties and clarify the key points of a deal in a completely non-binding way. There is no period of exclusivity given and confidentiality is not made binding. This document has been drafted in anticipation of a possible share acquisition by one party however the document has been drafted deliberately widely so that the language can be adapted to suit most proposed transactions.
The full range of our complementary share sale documents can be accessed here.
Our Letter Of Intent For The Acquisition Of Assets can be accessed here.
The contents of this Newsletter are for reference purposes only and do not constitute
legal advice. Independent legal advice should be sought in relation to any specific