A Letter of Intent to Work Together is commonly used in Nigerian business practice as a stepping stone toward more formal agreements. It serves to document preliminary understandings between parties who are exploring potential collaboration or business relationships. This document type is particularly relevant in the Nigerian business environment where formal documentation of intentions is valued, and helps establish clear expectations while negotiations for a definitive agreement are ongoing. The letter typically includes both non-binding elements (such as proposed commercial terms) and binding elements (such as confidentiality provisions), all governed by Nigerian law. It's especially useful in complex business arrangements where detailed due diligence and negotiation are required before finalizing a formal agreement.
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1. Letter Header and Date: Formal business letter header including sender's details, recipient's details, and date
2. Introduction: Opening paragraph identifying the parties and expressing the general intent to work together
3. Project Overview: Brief description of the proposed collaboration or project that the parties intend to pursue
4. Scope of Collaboration: General outline of how the parties intend to work together and their respective roles
5. Key Commercial Terms: High-level overview of the main commercial terms being considered
6. Timeline: Proposed timeline for negotiating and finalizing a definitive agreement
7. Non-Binding Nature: Clear statement that the letter is non-binding except for specific provisions
8. Confidentiality: Binding provisions regarding the confidentiality of discussions and shared information
9. Closing and Signatures: Formal closing, signature blocks, and acknowledgment of receipt
1. Exclusivity Period: Optional binding provision preventing parties from negotiating with others for a specified period
2. Cost Allocation: Optional section detailing how costs during the negotiation period will be handled
3. Due Diligence: Optional section outlining the proposed due diligence process if relevant to the collaboration
4. Governing Law: Optional section specifying the governing law for the binding provisions
5. Termination: Optional section specifying how and when the letter of intent can be terminated
6. Good Faith Commitment: Optional statement about parties' commitment to negotiate in good faith
1. Initial Project Plan: High-level outline of proposed project milestones and activities
2. Key Personnel: List of key contacts from each party involved in the negotiations
3. Preliminary Timeline: Proposed schedule for key activities and milestones
4. Resources Overview: Initial overview of resources each party may contribute to the collaboration
Relevant legal definitions
Parties
Confidential Information
Proposed Transaction
Effective Date
Definitive Agreement
Business Day
Binding Provisions
Non-Binding Provisions
Project
Collaboration Period
Representatives
Intellectual Property
Due Diligence
Exclusivity Period
Permitted Purpose
Territory
Governing Law
Material Adverse Change
Working Group
Affiliate
Confidential Information
Proposed Transaction
Effective Date
Definitive Agreement
Business Day
Binding Provisions
Non-Binding Provisions
Project
Collaboration Period
Representatives
Intellectual Property
Due Diligence
Exclusivity Period
Permitted Purpose
Territory
Governing Law
Material Adverse Change
Working Group
Affiliate
Clauses
Introduction
Purpose
Scope of Collaboration
Non-Binding Nature
Confidentiality
Exclusivity
Good Faith
Due Diligence
Costs and Expenses
Intellectual Property
Duration
Termination
Binding Provisions
Non-Solicitation
Governing Law
Dispute Resolution
Notices
Assignment
Force Majeure
Entire Understanding
Purpose
Scope of Collaboration
Non-Binding Nature
Confidentiality
Exclusivity
Good Faith
Due Diligence
Costs and Expenses
Intellectual Property
Duration
Termination
Binding Provisions
Non-Solicitation
Governing Law
Dispute Resolution
Notices
Assignment
Force Majeure
Entire Understanding
Relevant Industries
Oil and Gas
Technology
Manufacturing
Agriculture
Financial Services
Healthcare
Education
Construction
Telecommunications
Renewable Energy
Mining
Real Estate
Retail
Transportation and Logistics
Professional Services
Relevant Teams
Legal
Business Development
Corporate Strategy
Operations
Finance
Compliance
Commercial
Project Management
Risk Management
Corporate Affairs
Relevant Roles
Chief Executive Officer
Managing Director
Business Development Manager
Legal Counsel
Corporate Lawyer
Chief Operating Officer
Project Manager
Strategic Partnerships Director
Chief Financial Officer
Compliance Officer
Commercial Director
Investment Manager
Operations Manager
Contract Manager
Business Unit Head
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