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.“  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.