Preliminary Agreement Betekenis

Terminology sheets are similar to „declarations of intent“ (SPs) in that they are both interim documents, usually non-binding, intended to record the intentions of two or more parties to conclude a future agreement on the basis of certain conditions (but incomplete or provisional). The difference between the two is small and is usually a matter of style: a LOI is usually written in the form of a letter and focuses on the intentions of the parties; A term sheet skips most formalities and lists the terms of the agreement in enumeration characters or a similar format. This is a consequence: a law refers only to the final form. A terminology sheet may be a proposal, not an agreed document. A number of international agreements are called framework agreements: if the parties do not intend to make a binding pre-agreement, the following points should be taken into account: in the context of contracting, a framework agreement is an agreement between one or more companies or organisations „aimed at setting the terms of the contracts to be spent for a specified period of time. , including the price and, if any, the expected quantity.“ [1] First, the advantage of the shortness sheet format is that it speeds up the process. Experienced consultants immediately know what is meant by „recording requirements at the transmitter`s expense, unlimited piggybacking at the issuer`s expense, weighted average anti-dilution“; He saves time for not having to express the long version of these references. Second, it is less likely that a court will find an unexpected change in sola, since the terminology sheet does not propose any agreement of any kind; A „declaration of intent“ can be a dangerous document, unless it clearly states which parties should be binding and which parties merely guide the discussion and the project. It is clear that parts of a terminology sheet can have a binding effect if and to the extent that an interpersonal reminder of certain binding promises, i.e.

the confidentiality of the information provided during the negotiations, is necessary.