The Letter of Intent to Sell is a crucial preliminary document in Indian business and property transactions, typically used before entering into a formal sale agreement. It serves as a documented expression of the parties' intentions and outlines the fundamental terms of the proposed transaction. While generally non-binding except for specific clauses (such as confidentiality), it plays a vital role in establishing the framework for negotiations and demonstrating commitment to the transaction. The document must comply with Indian contract law principles and may require stamp duty depending on the jurisdiction and transaction value. It's particularly useful in complex transactions where parties need to document their preliminary understanding while conducting due diligence or arranging financing.
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1. Date and Address Block: Opening with the current date and recipient's complete address details
2. Subject Line: Clear identification of the document as a Letter of Intent to Sell [Asset/Property]
3. Introduction: Opening paragraph identifying the parties and expressing the intent to sell/purchase
4. Property Description: Detailed description of the asset or property being considered for sale
5. Purchase Price: Proposed purchase price and any relevant payment terms
6. Timeline: Proposed timeline for the transaction completion
7. Due Diligence: Basic terms for conducting due diligence
8. Confidentiality: Statement regarding confidentiality of discussions and information
9. Non-Binding Nature: Clear statement that the LOI is non-binding except for specified clauses
10. Closing: Signature blocks and formal closing of the letter
1. Exclusivity Period: Include when parties want to establish an exclusive negotiation period
2. Earnest Money: Include when an initial deposit or earnest money is part of the transaction
3. Conditions Precedent: Include when there are specific conditions that must be met before proceeding
4. Broker Information: Include when real estate brokers or agents are involved in the transaction
5. Governing Law: Include when parties want to specify jurisdiction, especially in inter-state transactions
1. Property Details Schedule: Detailed description of the property including boundaries, measurements, and registation details
2. Price Breakdown: Detailed breakdown of the purchase price, including any adjustments or additional costs
3. Timeline Schedule: Detailed timeline of key dates and milestones for the transaction
4. Due Diligence Checklist: List of documents and information required for due diligence
Relevant legal definitions
Clauses
Property Description
Purchase Price
Payment Terms
Due Diligence
Timeline
Confidentiality
Exclusivity
Non-Binding Nature
Binding Obligations
Good Faith
Costs and Expenses
Governing Law
Termination
Notices
Assignment
Force Majeure
Entire Understanding
Amendments
Dispute Resolution
Representations and Warranties
Purchase Price
Payment Terms
Due Diligence
Timeline
Confidentiality
Exclusivity
Non-Binding Nature
Binding Obligations
Good Faith
Costs and Expenses
Governing Law
Termination
Notices
Assignment
Force Majeure
Entire Understanding
Amendments
Dispute Resolution
Representations and Warranties
Relevant Industries
Real Estate
Manufacturing
Retail
Technology
Healthcare
Hospitality
Industrial
Agriculture
Automotive
Energy
Infrastructure
Education
Relevant Teams
Legal
Finance
Business Development
Operations
Procurement
Real Estate
Corporate Affairs
Commercial
Compliance
Asset Management
Relevant Roles
Chief Executive Officer
Managing Director
Business Development Manager
Legal Counsel
Corporate Lawyer
Property Manager
Real Estate Manager
Chief Financial Officer
Finance Director
Procurement Manager
Business Owner
Asset Manager
Operations Director
Company Secretary
Commercial Director
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