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Confirmation Letter Of Intent Template for Singapore

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Key Requirements PROMPT example:

Confirmation Letter Of Intent

"I need a Confirmation Letter of Intent for a potential joint venture with a Singapore-based manufacturing company, focusing on exclusive negotiations for 90 days and including provisions for detailed due diligence starting March 2025."

Document background
A Confirmation Letter of Intent is commonly used in Singapore business transactions to formally document preliminary agreements and intentions between parties. This document typically precedes more detailed, definitive agreements and serves to outline key terms and conditions while maintaining flexibility. Under Singapore law, while most provisions are usually non-binding, certain elements like confidentiality and exclusivity can be made explicitly binding. The document helps parties establish clear communication, demonstrate commitment, and set expectations for further negotiations.
Suggested Sections

1. Date and Parties: Clear identification of all parties involved and date of the letter

2. Expression of Intent: Clear statement of the business intention or proposed transaction

3. Key Terms: Basic commercial terms being proposed

4. Timeline: Proposed timeline for next steps and validity period of the LOI

5. Non-Binding Statement: Clear statement regarding the non-binding nature of the LOI (if applicable)

6. Signature Block: Proper execution blocks for all parties

Optional Sections

1. Exclusivity: Provisions for exclusive negotiations between parties for a specified period

2. Confidentiality: Provisions regarding the protection and handling of confidential information exchanged during negotiations

3. Cost Allocation: Terms specifying how costs during the negotiation period will be handled between parties

4. Binding Provisions: Specific terms that are intended to be legally binding despite the generally non-binding nature of the LOI

Suggested Schedules

1. Term Sheet: Summary of key commercial terms being proposed

2. Timeline Schedule: Detailed timeline for transaction completion and key milestones

3. Corporate Authority Documentation: Evidence of authority to sign and supporting corporate documentation

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions




















Clauses




















Industries

Singapore Contract Law: Core common law principles governing contract formation, validity, and enforcement in Singapore

Electronic Transactions Act: Legislation governing electronic signatures and digital contract execution in Singapore

Companies Act (Cap. 50): Regulatory framework for corporations in Singapore, relevant when parties are registered companies

Business Registration Act: Legal requirements for business registration and operations in Singapore

Agency Law: Legal principles governing authority and representation when signing on behalf of entities

Evidence Act: Rules regarding documentary evidence and admissibility in legal proceedings

Limitation Act: Statutory time limits for enforcement of legal rights and obligations

Non-binding vs. Binding Provisions: Legal principles determining whether LOI terms are intended to be legally binding or merely expressions of intent

Confidentiality Requirements: Legal framework for protecting confidential information shared during the LOI period

Exclusivity Provisions: Legal considerations for implementing and enforcing exclusivity clauses in LOIs

Termination Rights: Legal framework governing the circumstances and procedures for terminating the LOI

Dispute Resolution: Legal mechanisms and options for resolving disputes arising from the LOI under Singapore law

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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