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Letter Of Intent In English for Singapore

Letter Of Intent In English Template for Singapore

A Letter of Intent (LOI) under Singapore law is a preliminary document that outlines the proposed terms of a transaction or business relationship before the execution of a definitive agreement. It serves as a framework for negotiations and typically includes both binding and non-binding provisions. Under Singapore's legal framework, the document must clearly distinguish between binding and non-binding elements to ensure enforceability of intended provisions while maintaining flexibility for ongoing negotiations.

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What is a Letter Of Intent In English?

The Letter of Intent in English, governed by Singapore law, is commonly used in commercial transactions to establish preliminary understanding between parties before entering into a formal agreement. It typically includes key commercial terms, timelines, and any binding provisions such as confidentiality or exclusivity. This document is particularly important in Singapore's business environment, where it serves as a stepping stone to more detailed agreements while providing certain legal protections under the Contract Act (Cap. 53) and related legislation. The LOI helps parties align their expectations and commence due diligence while maintaining flexibility in negotiations.

What sections should be included in a Letter Of Intent In English?

1. Sender and Recipient Details: Full names, addresses, and contact information of both parties

2. Date: Date of the letter

3. Subject Matter: Clear description of the proposed transaction or relationship

4. Key Terms: Principal commercial terms and conditions

5. Timeline: Proposed timeline for negotiation and execution

6. Binding/Non-binding Statement: Clear statement of which provisions are binding or non-binding

What sections are optional to include in a Letter Of Intent In English?

1. Exclusivity: Used when parties want exclusive negotiation rights for a specified period

2. Confidentiality: When sensitive information will be exchanged during negotiations

3. Due Diligence: When preliminary investigation of assets/business is required

4. Costs: When specific cost allocation needs to be addressed

What schedules should be included in a Letter Of Intent In English?

1. Term Sheet: Summary of key commercial terms

2. Initial Project Timeline: Proposed schedule for key milestones

3. Corporate Authority Documents: Evidence of authority to enter into negotiations

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Singapore

Publisher

Ƶ

Document Type

Letter of Intent

Cost

Free to use
Relevant legal definitions















Clauses















Industries

Contract Act (Cap. 53): Primary legislation governing contract formation, validity, and enforcement in Singapore. Includes fundamental principles of offer, acceptance, consideration, and contractual obligations.

Electronic Transactions Act: Provides legal framework for electronic signatures and digital contracts, relevant if the LOI will be executed electronically.

Evidence Act (Cap. 97): Governs the admissibility of evidence in legal proceedings, including documentary evidence such as contracts and LOIs.

Specific Relief Act (Cap. 321): Provides remedies and enforcement mechanisms for contractual obligations, including specific performance and injunctive relief.

Competition Act (Cap. 50B): Ensures compliance with competition law, particularly relevant if the LOI involves market-sensitive arrangements or potential anti-competitive elements.

Companies Act (Cap. 50): Governs corporate capacity and authority to enter into contracts, including requirements for board approval and corporate representation.

UNCITRAL CISG: United Nations Convention on Contracts for International Sale of Goods - applicable if the LOI involves international sale of goods.

Common Law Principles: Singapore's legal system incorporates English common law principles, which supplement statutory law in contract interpretation and enforcement.

Industry-Specific Regulations: Depending on the subject matter of the LOI, specific industry regulations and regulatory approvals may need to be considered.

Private International Law: Principles governing cross-border contractual relationships, including choice of law and jurisdiction clauses if international elements are present.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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