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Small Business Letter Of Intent For Business
"I need a Small Business Letter of Intent For Business to outline my intention to purchase a local retail store, including an exclusivity period of 60 days and specific provisions about conducting due diligence by March 2025."
1. Introduction and Parties: Identification of all parties involved and their contact details
2. Purpose Statement: Clear statement of the business arrangement being contemplated
3. Key Terms: Outline of main business terms and conditions being proposed
4. Timeline: Proposed schedule for negotiations and completion
5. Binding/Non-binding Statement: Clear indication of which provisions are intended to be binding
1. Exclusivity: Used when parties want to negotiate exclusively for a period. Include when dealing with sensitive negotiations or significant investments.
2. Break Fee: Compensation if one party withdraws from negotiations. Include in high-value transactions or where significant due diligence costs are expected.
3. Due Diligence Process: Outline of information sharing and verification process. Include when detailed investigation of business assets/operations is required.
1. Term Sheet: Summary of key commercial terms being proposed
2. Timeline Schedule: Detailed breakdown of proposed timeline and key milestones
3. Confidentiality Agreement: If not already executed separately, terms for maintaining confidentiality
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