A Counter Offer Letter is commonly used in Singapore when the recipient of an initial offer wishes to propose alternative terms while maintaining interest in the transaction. The document must comply with Singapore's contractual requirements and typically includes reference to the original offer, clearly stated modified terms, acceptance deadlines, and any conditions precedent. This document effectively terminates the original offer and creates a new offer with modified terms, requiring acceptance from the original offeror to form a binding agreement.
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Key Requirements PROMPT example:
Counter Offer Letter
"I need a Counter Offer Letter to respond to a software development contract proposal, modifying the payment terms from quarterly to monthly installments and extending the project timeline by 6 months, to be effective from January 2025."
1. Reference to Original Offer: Clear identification of the original offer being countered, including date and reference numbers
2. Date: Current date of the counter offer letter
3. Recipient Details: Full name and address of the recipient, including business details if applicable
4. Modified Terms: Detailed explanation of the terms being modified from the original offer, with clear reasoning
5. Time Limit: Specific deadline for acceptance of the counter offer
6. Signature Block: Space for signature, name, title, and date of signing
1. Conditions Precedent: Any conditions that must be met before the counter offer becomes effective
2. Supporting Documentation Reference: Reference to any attached documents or evidence supporting the counter offer terms
3. Confidentiality Statement: Statement regarding the confidential nature of the counter offer and its terms
1. Original Offer: Attachment of the complete original offer being countered
2. Comparison Schedule: Side-by-side comparison of original and counter offer terms highlighting the differences
3. Supporting Documents: Any relevant documentation, certificates, or evidence supporting the modified terms
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