A framework for a Memorandum of Understanding (MOU), Letter of Intent (LOI), Heads of Agreement (HoA) or term sheet, in a 'legal' format for all sorts of transactions.The way it is drafted, listing conditions, outstanding issues, and points requiring agreement, it is not binding.
The framework provides for elaborate options to be included or not:
– a listing of required conditions precedent to any binding agreement (with a few possible examples),
– the option to express what is to be agreed before any agreement becomes effective,
– to the extent already agreed, the option to include such agreed clauses (to be inserted in a definitive agreement),
– a scheduling or roadmap to signing a definitive agreement,
– optionally, exclusivity and non-solicitation provisions,
– a normal confidentiality clause (optional, if no NDA had been entered into)
– basic boilerplate.
A (non-legal) description of the project to be undertaken, can be attached.