Publisher one

Genie AI

Jurisdiction

England and Wales

Contract party

Relevant sectors

Type of legal document

🧾 Bilateral term sheet

Business activity

Borrow money

Why use a 🧾 Bilateral term sheet?

A bilateral term sheet is a contract that outlines the terms of an agreement between two parties. It is typically used in business transactions, such as mergers and acquisitions, and can be used in other types of transactions as well. The term sheet outlines the key terms and conditions of the agreement, and is typically the first step in the negotiation process.

A Bilateral Term Sheet under UK law is a legal template that serves as a preliminary agreement or outline for a potential business transaction or partnership between two parties. This document sets out the key terms and conditions that both parties have agreed upon and intend to incorporate into a subsequent formal agreement, such as a contract or a joint venture agreement.

This template typically provides a clear and concise summary of the parties involved, the purpose and scope of the intended transaction, and the essential terms and conditions that will govern the relationship between them. It often includes provisions related to the commercial aspects of the transaction, such as the pricing, payment terms, delivery obligations, and any relevant performance indicators or milestones.

Additionally, a Bilateral Term Sheet typically outlines the rights, responsibilities, and obligations of each party involved, including any confidentiality, non-disclosure, or non-compete agreements, as well as any intellectual property considerations. It may also address dispute resolution methods, including jurisdiction and arbitration clauses, to establish a legal framework for resolving potential conflicts.

While it is essential to acknowledge that a Bilateral Term Sheet is not a legally binding contract itself, it serves as a guide for both parties as they negotiate and attempt to reach a final agreement. Therefore, it plays a crucial role in ensuring that both parties have a shared understanding of the intended transaction and paves the way for drafting a formal, legally binding agreement that will govern their relationship going forward.

How it works

Create doc / use template

Chat to our AI Legal Assistant

Edit, collaborate & share

Export to .docx

PRODUCT HUNT
#1 Product of the Day

Try using Genie's Free AI Legal Assistant

Generate quality, formatted contracts with AI

Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs

Let our Legal AI make 
edits for you

Ask Genie to edit your document in the same way you’d ask a paralegal. Genie makes track changes, and explains its thinking just like a junior lawyer would.

AI review

Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs

See Genie AI in action

Book your personalised demo now

Schedule a live, interactive demo with a Genie expert
Understand the most valuable features of Genie based on your workflow
Find out exactly how your business will benefit, from hours saved to faster revenue



Click here to book your personalised demo now.

Thank you for requesting a demo. You can book one immediately using the following link if you'd like to: https://bit.ly/GenieAIDemo

If you'd like to, you can now fill in our ROI calculator - you'll get instant results, which we'll use to make your demo even more specific.

Calculate now
Oops! Something went wrong while submitting the form.



Click here to book your personalised demo now.

Similar legal templates

Simple Parental Leave Policy (SMEs Friendly)

This legal template pertains to a Simple Parental Leave Policy specifically designed for small and medium-sized enterprises (SMEs) operating under the jurisdiction of UK law. The template outlines the guidelines and provisions related to parental leave that SMEs can implement to support their employees who are becoming parents or adopting a child. It details the rights and entitlements granted to employees in terms of time off from work for maternity, paternity, or adoption leave, while also providing guidance on the process for requesting and approving parental leave. This template is aimed at assisting SMEs in implementing a fair, compliant, and supportive policy that takes into consideration the legal requirements surrounding parental leave in the UK, enabling employers to effectively manage their workforce and create a positive work-life balance for their employees.
Read More

Publisher

Genie AI

Jurisdiction

England and Wales
TEMPLATE
USED BY
7
RATINGS
2
DISCUSSIONS
3

Short-Form Consulting Agreement

A Short-Form Consulting Agreement under UK law is a legal template that outlines the terms and conditions of a consulting engagement between a consultant and a client in the United Kingdom. This agreement is designed to be concise and suitable for low-risk consulting projects, making it ideal for quick and straightforward engagements.

The template covers essential details such as the scope of services to be provided, the compensation structure, and the duration of the engagement. It defines the roles and responsibilities of both the consultant and the client, ensuring a clear understanding of expectations.

Additionally, the agreement includes provisions regarding confidentiality, intellectual property rights, termination conditions, and liability limitations. It also addresses dispute resolution methods, governing law, and jurisdiction to provide a legal framework for addressing potential conflicts.

By utilizing a Short-Form Consulting Agreement under UK law, both parties can have peace of mind by putting their agreement in writing and having a legally binding document that protects their interests.
Read More

Publisher

Genie AI

Jurisdiction

England and Wales
TEMPLATE
USED BY
6
RATINGS
3
DISCUSSIONS
3

Share Purchase Exchange Of Contracts (Buyer Board Minutes)

This legal template, "Share Purchase Exchange of Contracts (Buyer Board Minutes) under UK law," is a document designed to facilitate the smooth exchange of contracts between a buyer and seller in a share purchase transaction. It specifically focuses on the buyer's actions and responsibilities during the exchange process, as recorded in the minutes of a board meeting or written resolution under UK law.

The template likely contains a detailed outline of the essential steps and considerations required before finalizing the share purchase. It may include specific provisions related to the buyer's board of directors or shareholders, outlining their roles and responsibilities, and expressing agreement to the terms and conditions of the share purchase contract.

The document could cover various aspects, such as authorization of key individuals to sign the contract on behalf of the buyer, discussion and approval of any necessary resolutions or consents, confirmation of the purchase price and payment details, reviewing any warranties or indemnities involved in the transaction, and ensuring compliance with relevant legal and regulatory requirements.

Additionally, the template might incorporate provisions for addressing potential disputes, confidentiality obligations, governing law, and jurisdiction to protect the interests of both parties involved.

By utilizing this legally-approved template, businesses engaging in share purchase transactions can ensure that all necessary steps have been taken, formalities have been followed, and necessary approvals have been obtained before executing the contract. This assists in safeguarding the rights and interests of the buyer while promoting a transparent and efficient exchange process in accordance with UK law.
Read More

Publisher

Genie AI

Jurisdiction

England and Wales
TEMPLATE
USED BY
4
RATINGS
3
DISCUSSIONS
0