Document background
The Asset Purchase Agreement Term Sheet is a crucial preliminary document used in Pakistani business transactions when one party intends to purchase specific assets from another. It is typically prepared following initial negotiations but before detailed due diligence and final agreement drafting. This document outlines the fundamental terms of the proposed transaction, including asset description, pricing, payment structure, and key conditions, while considering Pakistani legal requirements and commercial practices. The term sheet serves as a roadmap for the transaction, helping parties align their expectations and forming the basis for preparing the definitive asset purchase agreement. While generally non-binding (except for specific provisions like confidentiality), it demonstrates serious intent and facilitates further negotiations within the Pakistani legal framework.
