A Letter of Intent for Coal Purchase is commonly used in the UAE energy sector as a preliminary step before entering into a definitive coal purchase agreement. This document is particularly relevant in the UAE context where coal imports play a significant role in industrial and power generation sectors, especially following the development of clean coal power plants. The LOI serves to outline the parties' serious intentions while allowing flexibility for detailed negotiations. It typically includes proposed commercial terms, technical specifications, exclusivity periods, and confidentiality provisions, all while adhering to UAE legal requirements. The document is especially important given the UAE's strategic focus on energy security and diversification, requiring careful consideration of both local regulations and international trade practices. It's commonly used when parties have reached preliminary understanding on key terms but need a formal framework for conducting due diligence and negotiating final agreements.
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1. Parties: Full legal names and addresses of the buyer and seller, including registration numbers and authorized representatives
2. Background/Recitals: Brief context of the proposed transaction and relationship between parties
3. Definitions: Key terms used in the LOI, particularly technical coal specifications and trade terms
4. Purpose: Clear statement of intent to enter into coal purchase agreement subject to conditions
5. Basic Transaction Terms: Outline of key commercial terms including quantity, quality specifications, and indicative price range
6. Due Diligence: Process and timeline for conducting necessary due diligence
7. Exclusivity Period: Duration during which parties agree to negotiate exclusively with each other
8. Timeline: Expected timeline for negotiation and execution of definitive agreement
9. Confidentiality: Obligations regarding confidential information exchanged during negotiations
10. Binding Terms: Clear statement of which provisions are binding (typically confidentiality, exclusivity, and governing law)
11. Costs: Each party's responsibility for their own costs during negotiation phase
12. Governing Law and Jurisdiction: Specification of UAE law and relevant jurisdiction for disputes
1. Good Faith Deposit: Terms for any initial deposit or security, if required by either party
2. Conditions Precedent: Any specific conditions that must be met before proceeding to final agreement
3. Break Fee: Provisions for compensation if either party withdraws under specific circumstances
4. Regulatory Compliance: Specific mentions of required regulatory approvals or compliance requirements
5. Force Majeure: Basic provisions for force majeure events during the negotiation period
6. Term and Termination: Specific provisions about the duration of the LOI and circumstances for early termination
1. Schedule A - Coal Specifications: Detailed technical specifications of the coal product including calorific value, ash content, moisture, etc.
2. Schedule B - Pricing Mechanism: Indicative pricing structure and reference indices to be used
3. Schedule C - Due Diligence Requirements: List of documents and information required for due diligence
4. Schedule D - Timeline: Detailed timeline with key milestones for negotiation and completion
5. Appendix 1 - Required Authorizations: List of necessary permits, licenses and authorizations required from both parties
6. Appendix 2 - Form of Confidentiality Agreement: Detailed confidentiality terms if not fully incorporated in main document
Relevant legal definitions
Clauses
Relevant Industries
Energy
Mining
Power Generation
Industrial Manufacturing
Commodities Trading
Utilities
Heavy Industry
Maritime Transportation
International Trade
Natural Resources
Relevant Teams
Legal
Procurement
Commercial
Trading
Supply Chain
Risk Management
Operations
Business Development
Finance
Technical
Compliance
Strategy
Relevant Roles
Chief Executive Officer
Chief Commercial Officer
Procurement Director
Energy Trading Manager
Commercial Director
Legal Counsel
Supply Chain Manager
Commodities Trading Manager
Business Development Director
Operations Director
Risk Management Officer
Contract Manager
Technical Director
Chief Financial Officer
Strategic Sourcing Manager
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