Document background
A Letter of Intent to Purchase Equipment is commonly used in commercial transactions within England and Wales as a preliminary step before finalizing an equipment purchase. It serves to document the buyer's serious interest and outline fundamental terms while maintaining flexibility for both parties. This document typically includes equipment specifications, proposed pricing, timeline, and any conditions that need to be met before proceeding with the final purchase. While mostly non-binding, it can include binding provisions for confidentiality and exclusivity. It's particularly useful for complex or high-value equipment purchases where due diligence is required.
