A Non-Binding Letter of Intent To Purchase Business is typically used in the initial stages of a business acquisition process when a potential buyer wishes to formally express their interest and outline basic terms without creating binding obligations. This document, governed by Austrian law, serves multiple purposes: it demonstrates serious intent to the seller, outlines the proposed structure and key terms of the transaction, establishes a framework for due diligence, and may secure temporary exclusivity for negotiations. While primarily non-binding, it often contains specific binding provisions regarding confidentiality, exclusivity periods, and governing law. The document is particularly crucial in the Austrian business environment, where it helps establish clear parameters for negotiations while adhering to local commercial practices and legal requirements.
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1. Date and Addresses: Opening of letter with current date and formal addresses of both parties
2. Subject Line: Clear indication that this is a Non-Binding Letter of Intent regarding the purchase of [Business Name]
3. Introduction: Brief introduction identifying the parties and their roles (potential purchaser and seller)
4. Transaction Overview: High-level description of the proposed transaction and the business being considered for purchase
5. Proposed Purchase Price: Indicative purchase price or price range and basic payment terms
6. Due Diligence: Outline of the proposed due diligence process and timeline
7. Timeline: Proposed schedule for negotiations, due diligence, and target closing date
8. Confidentiality: Reference to any existing confidentiality agreement or basic confidentiality terms
9. Non-Binding Nature: Clear statement that the letter is non-binding except for specific provisions
10. Binding Provisions: Identification of any binding provisions (typically confidentiality, exclusivity if applicable, and governing law)
11. Closing: Signature blocks and formal closing of the letter
1. Exclusivity: Optional provision requesting exclusive negotiation rights for a specified period - include when exclusivity is desired and likely to be accepted
2. Financing: Include when the purchase is subject to financing arrangements that should be disclosed upfront
3. Key Personnel: Add when retention of specific management or key employees is crucial to the transaction
4. Post-Closing Cooperation: Include when transition services or seller's post-closing involvement will be needed
5. Break Fee: Add when parties want to include provisions for compensation if either party withdraws under specific circumstances
6. Regulatory Approvals: Include when the transaction will require significant regulatory approvals that should be highlighted early
1. Basic Terms Sheet: High-level summary of key commercial terms being proposed
2. Assets/Business Description: Brief description of the business, key assets, or shares being acquired
3. Timeline Overview: Detailed proposed timeline for the transaction process
4. Due Diligence Requirements: Initial list of due diligence requirements and information requests
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Technology
Retail
Professional Services
Healthcare
Real Estate
Financial Services
Energy
Telecommunications
Transportation
Hospitality
Construction
Agriculture
Media and Entertainment
Relevant Teams
Legal
Finance
Corporate Development
Mergers & Acquisitions
Strategy
Executive Leadership
Risk Management
Corporate Secretariat
Business Development
Operations
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Managing Director
Corporate Development Director
Head of Mergers & Acquisitions
Business Development Manager
General Counsel
Legal Director
Investment Manager
Strategy Director
Financial Controller
Corporate Secretary
Risk Manager
Operations Director
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