Document background
The Partnership Letter of Intent is a crucial preliminary document used in Belgian business practice when parties are considering entering into a formal partnership arrangement. It serves as a roadmap for negotiations and typically precedes more detailed, binding partnership agreements. While generally non-binding, it demonstrates serious intent and commitment to exploring a partnership opportunity. The document is particularly important in the Belgian legal context, where pre-contractual negotiations must be conducted in good faith under Civil Code principles. It helps parties establish clear expectations, timelines, and responsibilities while protecting confidential information exchanged during negotiations. The Letter of Intent typically includes key commercial terms, proposed structure, and timeline for due diligence and definitive agreement preparation, making it an essential tool in complex business transactions under Belgian law.
