The Non-Binding Letter of Intent is a crucial preliminary document in Indian business transactions, commonly used when parties wish to formally express their serious interest in a potential deal while maintaining flexibility before final commitments. It serves as a framework for future negotiations and typically precedes definitive agreements in various transactions such as mergers and acquisitions, joint ventures, or significant commercial arrangements. While governed by Indian law, particularly the Indian Contract Act, 1872, the document explicitly maintains its non-binding nature except for specific provisions that parties may agree to make binding. It typically includes proposed transaction terms, timelines, due diligence requirements, and any exclusivity or confidentiality obligations, helping parties align their expectations and demonstrate commitment while preserving their ability to withdraw from negotiations.
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1. Letter Header: Date, recipient details, and sender details in formal business letter format
2. Subject Line: Clear identification of the transaction or proposal being discussed
3. Introduction: Brief introduction of the sender and the purpose of the letter
4. Transaction Overview: High-level description of the proposed transaction or business relationship
5. Key Terms: Outline of the principal commercial terms being proposed
6. Timeline: Proposed schedule for negotiations, due diligence, and execution of definitive agreements
7. Non-Binding Nature: Clear statement that the LOI is non-binding except for any specifically identified binding provisions
8. Closing: Standard letter closing with signature block
1. Exclusivity: Optional binding provision requesting exclusive negotiation rights for a specified period
2. Confidentiality: Optional binding provision regarding the treatment of confidential information, if not covered by a separate NDA
3. Costs and Expenses: Optional section specifying how transaction costs will be borne
4. Governing Law: Optional section specifying applicable law for any binding provisions
5. Term/Expiration: Optional section specifying how long the LOI remains open for acceptance
6. Due Diligence Requirements: Optional section outlining specific due diligence requirements and process
1. Term Sheet: Detailed outline of the key commercial terms and conditions being proposed
2. Timeline Schedule: Detailed timeline for the proposed transaction process
3. Asset Schedule: If applicable, list of assets or properties involved in the proposed transaction
4. Price Structure: If applicable, detailed breakdown of proposed pricing or payment terms
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Manufacturing
Real Estate
Technology
Healthcare
Financial Services
Energy
Infrastructure
Retail
Telecommunications
Education
Hospitality
Automotive
Pharmaceutical
E-commerce
Mining and Natural Resources
Relevant Teams
Legal
Corporate Development
Finance
Strategy
Business Development
Operations
Mergers & Acquisitions
Executive Leadership
Commercial
Risk Management
Corporate Secretary
Investment
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Managing Director
Business Development Manager
Corporate Strategy Director
General Counsel
Legal Director
Investment Manager
Mergers & Acquisitions Director
Project Manager
Commercial Director
Head of Operations
Chief Operating Officer
Vice President of Corporate Development
Investment Banker
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