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Letter Of Intent Procurement
I need a Letter of Intent Procurement for a manufacturing equipment purchase worth £2.5M, with exclusive negotiation rights until March 2025 and specific provisions for technical due diligence before the main agreement.
1. Project Identification: Clear identification of the project or procurement subject matter, including parties involved and their roles
2. Scope of Intent: Detailed description of what is being proposed, intended outcomes, and key deliverables
3. Timeline: Proposed schedule for negotiations, key milestones, and expected completion dates
4. Commercial Terms: Key commercial terms including pricing structure, payment terms, and any conditional elements
5. Binding/Non-binding Statement: Clear statement identifying which provisions are intended to be legally binding and which are not
1. Exclusivity: Terms regarding exclusive negotiations, preventing parallel negotiations with other parties
2. Confidentiality: Terms protecting confidential information exchanged during negotiations and implementation
3. Break Fee: Provisions for compensation if negotiations terminate or specific conditions are not met
4. Regulatory Compliance: Specific provisions addressing relevant regulatory requirements and compliance obligations
1. Initial Specification: Preliminary technical or service specifications detailing requirements
2. Project Timeline: Detailed timeline showing key dates, milestones, and critical path activities
3. Term Sheet: Summary of key commercial terms and conditions agreed in principle
4. Due Diligence Requirements: List of required documentation, verifications, and compliance requirements
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