Document background
The Notice of Intent to Exercise Option Letter is a crucial document in Singapore's legal framework that bridges the gap between having an option right and actually exercising it. This document is typically used when a party wishes to formally activate their rights under an option agreement, whether for property purchases, share acquisitions, or other contractual rights. The notice must be drafted in compliance with Singapore law and usually contains specific details about the option being exercised, including reference to the original agreement, exercise price, and relevant timelines. It serves as a legally binding confirmation of the option holder's intention to proceed with the transaction.
