The Non-Binding Letter of Intent is a crucial preliminary document used in Austrian business transactions to outline the parties' intentions and proposed terms before entering into formal negotiations or due diligence processes. It serves as a roadmap for more detailed discussions while explicitly preserving its non-binding character under Austrian law. This document is particularly valuable in mergers and acquisitions, joint ventures, real estate transactions, and strategic partnerships where parties need to document their preliminary understanding while maintaining negotiation flexibility. The document typically precedes more formal agreements and helps establish the framework for due diligence and detailed contract negotiations, all while operating within the specific requirements and considerations of Austrian legal practice.
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1. Date and Parties: Full legal names and addresses of all parties involved
2. Introduction: Brief statement identifying the parties and the general purpose of the letter
3. Non-Binding Nature Declaration: Clear and explicit statement that the letter is non-binding and does not create legal obligations
4. Transaction Overview: High-level description of the proposed transaction or relationship
5. Key Terms: Outline of the principal terms and conditions being considered
6. Timeline: Proposed schedule for negotiations, due diligence, and potential completion
7. Confidentiality: Statement regarding the confidential nature of discussions and any existing NDAs
8. Contact Details: Key contact persons for further discussions
9. Closing and Signatures: Formal closing of the letter with signature blocks
1. Exclusivity: Optional provision for exclusive negotiations for a specified period - include when parties want to ensure exclusive discussions
2. Costs and Expenses: Statement about who bears the costs of negotiations and due diligence - include when significant preliminary expenses are expected
3. Governing Law: While non-binding, can specify governing law for confidentiality aspects - include in international transactions
4. Due Diligence Process: Outline of proposed due diligence process - include for complex transactions requiring significant investigation
5. Break Fee: Any break fee arrangements if discussions terminate - include in high-value transactions where significant resources will be committed
1. Term Sheet: Detailed outline of key commercial terms under consideration
2. Timeline Schedule: Detailed proposed timeline for the transaction process
3. Due Diligence Checklist: Preliminary list of required due diligence items
4. Corporate Information: Basic corporate information about the parties involved
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Manufacturing
Technology
Financial Services
Healthcare
Energy
Infrastructure
Retail
Telecommunications
Professional Services
Construction
Hospitality
Transportation
Media and Entertainment
Relevant Teams
Legal
Corporate Development
Mergers & Acquisitions
Business Development
Strategy
Finance
Executive Leadership
Commercial
Operations
Risk Management
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Managing Director
Business Development Director
Corporate Development Manager
Legal Counsel
General Counsel
Investment Director
Head of Mergers & Acquisitions
Strategy Director
Real Estate Director
Chief Operating Officer
Commercial Director
Partnership Manager
Senior Corporate Lawyer
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