Document background
A Letter Of Intent To Purchase Software is commonly used in Singapore's business environment as a preliminary step before entering into a formal software purchase agreement. This document is particularly valuable when the software purchase requires significant due diligence, involves substantial investment, or needs board approval. It typically outlines the proposed terms of the purchase, including price range, timeline, and key conditions, while establishing certain binding provisions such as confidentiality and exclusivity. The document must comply with Singapore's legal framework, including the Electronic Transactions Act and Personal Data Protection Act.
