The Non-Binding Letter of Intent to Lease is a crucial preliminary document in Indian real estate transactions, commonly used when parties wish to formalize their initial discussions and proposed terms before committing to a binding lease agreement. It serves as a roadmap for negotiations while explicitly maintaining its non-binding nature under Indian law. This document is particularly useful in commercial leasing scenarios where parties need to document their preliminary understanding, outline key commercial terms, and establish a framework for due diligence and further negotiations. The letter typically precedes the formal lease agreement and helps parties align their expectations regarding crucial aspects such as rent, tenure, property use, and other key terms. While not legally binding, it demonstrates serious intent and often facilitates smoother progression toward the final lease agreement.
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1. Letter Header: Sender's details, date, and recipient's details in proper business letter format
2. Subject Line: Clear identification of document as Non-Binding Letter of Intent for Lease of specified property
3. Opening Statement: Introduction of parties and purpose of the letter
4. Property Details: Specific description and address of the property intended to be leased
5. Key Commercial Terms: Proposed lease duration, rent, security deposit, and payment terms
6. Intended Use: Proposed purpose and use of the property
7. Timeline: Proposed timeline for lease commencement and execution of formal lease agreement
8. Non-Binding Statement: Clear statement that the letter is non-binding and subject to formal lease agreement
9. Next Steps: Proposed process for moving forward, including timeline for response
10. Closing: Standard letter closing, signature block, and contact information
1. Due Diligence: Include when specific property investigations or document reviews are required before proceeding
2. Exclusivity Period: Include when requesting exclusive negotiation rights for a specific period
3. Conditions Precedent: Include when there are specific conditions that need to be met before proceeding with lease
4. Confidentiality: Include when sensitive information will be exchanged during negotiations
5. Cost Allocation: Include when there's a need to specify who bears the costs of lease preparation and registration
6. Maintenance and Repairs: Include when preliminary agreement on major maintenance responsibilities is needed
1. Property Details Schedule: Detailed description of property including floor plans, boundaries, and included fixtures/fittings
2. Proposed Lease Terms Summary: Detailed breakdown of all proposed commercial terms including rent escalation, maintenance charges, etc.
3. Property Photographs: Visual documentation of the property's current condition
4. Preliminary Floor Plan: Proposed layout or existing floor plan of the property
Relevant legal definitions
Property
Premises
Intended Commencement Date
Proposed Lease Term
Base Rent
Security Deposit
Permitted Use
Common Areas
Maintenance Charges
Property Tax
Utilities
Lock-in Period
Lease Deed
Due Diligence Period
Business Days
Handover Date
Floor Area
Super Built-up Area
Carpet Area
Fit-out Period
Force Majeure
Landlord's Works
Tenant's Works
Escalation Rate
Letter of Intent
Premises
Intended Commencement Date
Proposed Lease Term
Base Rent
Security Deposit
Permitted Use
Common Areas
Maintenance Charges
Property Tax
Utilities
Lock-in Period
Lease Deed
Due Diligence Period
Business Days
Handover Date
Floor Area
Super Built-up Area
Carpet Area
Fit-out Period
Force Majeure
Landlord's Works
Tenant's Works
Escalation Rate
Letter of Intent
Clauses
Non-Binding Nature
Property Description
Commercial Terms
Proposed Duration
Rent and Payments
Security Deposit
Permitted Use
Utilities and Maintenance
Property Access
Timeline
Due Diligence
Exclusivity
Confidentiality
Costs and Expenses
Good Faith Negotiations
Representatives and Communications
Governing Law
Termination
Next Steps
Property Condition
Alterations and Improvements
Insurance Requirements
Registration and Stamp Duty
Force Majeure
Assignment and Subletting
Property Description
Commercial Terms
Proposed Duration
Rent and Payments
Security Deposit
Permitted Use
Utilities and Maintenance
Property Access
Timeline
Due Diligence
Exclusivity
Confidentiality
Costs and Expenses
Good Faith Negotiations
Representatives and Communications
Governing Law
Termination
Next Steps
Property Condition
Alterations and Improvements
Insurance Requirements
Registration and Stamp Duty
Force Majeure
Assignment and Subletting
Relevant Industries
Real Estate
Retail
Information Technology
Manufacturing
Healthcare
Education
Banking and Financial Services
Hospitality
Professional Services
E-commerce
Logistics and Warehousing
Media and Entertainment
Relevant Teams
Real Estate
Legal
Finance
Operations
Facilities Management
Business Development
Corporate Affairs
Procurement
Administration
Relevant Roles
Real Estate Manager
Property Manager
Facilities Manager
Chief Financial Officer
Legal Counsel
Business Development Manager
Operations Director
Real Estate Agent
Leasing Manager
Corporate Real Estate Manager
Site Selection Manager
Expansion Manager
Asset Manager
Real Estate Director
Company Secretary
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