Document background
The Preliminary Contract is a crucial document used in Singapore business transactions when parties need to formalize their initial understanding while maintaining flexibility for detailed negotiations. It typically precedes more comprehensive agreements, particularly in complex transactions such as mergers, acquisitions, or joint ventures. This document includes essential terms, timelines, and obligations while adhering to Singapore's legal framework. The Preliminary Contract helps manage expectations, protect parties' interests during negotiations, and can include binding elements such as confidentiality and exclusivity provisions.
