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Letter Of Intent To Supply Goods
I need a Letter of Intent to Supply Goods for my manufacturing company to source electronic components from a supplier in Manchester, with an expected annual value of £2M and delivery starting from March 2025.
1. Opening Statement: Identifies the parties and establishes this as a Letter of Intent
2. Purpose: Clear statement of intention to enter into a supply arrangement
3. Goods Description: Specific details of the goods to be supplied
4. Timeline: Expected dates for formal agreement and supply commencement
5. Commercial Terms: Basic outline of pricing and payment terms
6. Non-Binding Statement: Clarification of which terms are binding/non-binding
7. Signature Block: Space for authorized signatures and dates
1. Exclusivity: Terms preventing negotiation with other suppliers during the negotiation period
2. Confidentiality: Terms protecting sensitive information exchanged during negotiations
3. Costs: Provisions regarding who bears the costs of negotiations and preparation
4. Termination: Conditions and process for ending negotiations
1. Product Specifications: Detailed technical specifications of goods to be supplied
2. Pricing Schedule: Detailed breakdown of prices for different products or volumes
3. Delivery Schedule: Proposed delivery dates, locations and quantities
4. Quality Standards: Required quality certifications and standards for the goods
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