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A Letter of Intent to Buy is commonly used in the Philippines as an initial step in significant purchase transactions, whether for real estate, business assets, or company shares. This document serves as a formal expression of interest and outlines preliminary terms while maintaining flexibility for detailed negotiations. While generally non-binding, it typically includes binding provisions regarding confidentiality and exclusivity. The document is particularly important in the Philippine business context, where formal documentation of intentions is valued in commercial relationships. It helps establish clear parameters for negotiation while adhering to local legal requirements and business customs. The Letter of Intent to Buy should be drafted with consideration of the Civil Code of the Philippines and relevant special laws, depending on the transaction type. It's especially useful in complex transactions where parties need to demonstrate serious intent before committing resources to due diligence and detailed contract negotiations.

1. Date and Parties: Full names and addresses of both the potential buyer and seller

2. Subject Matter Introduction: Clear statement that this is a Letter of Intent to purchase specific assets/property

3. Property/Asset Description: Detailed description of what is intended to be purchased

4. Purchase Price: Proposed purchase price or price range and payment terms

5. Timeline: Proposed timeline for due diligence and completion of the transaction

6. Due Diligence: Brief outline of the due diligence process and requirements

7. Confidentiality: Statement regarding confidentiality of negotiations and information

8. Non-Binding Nature: Clear statement that the LOI is non-binding except for specific provisions

9. Exclusivity: Period during which the seller cannot negotiate with other parties

10. Signature Block: Space for signatures of authorized representatives of both parties