Document background
The Letter of Intent to Purchase Template is commonly used in Singapore as an initial step in significant purchase transactions. It serves to document the preliminary understanding between parties before proceeding with a definitive agreement. This document typically includes proposed purchase terms, conditions precedent, due diligence requirements, and timeline for completion. Under Singapore law, while most provisions are non-binding, certain elements like confidentiality and exclusivity can be made explicitly binding. The document is particularly useful in complex transactions where parties need to establish clear parameters before investing significant resources in due diligence and detailed negotiations.
