Document background
A Letter of Intent to Sell Products serves as a crucial preliminary step in commercial transactions, establishing the framework for a subsequent formal sale agreement. This document type is commonly used when parties wish to memorialize their serious intention to enter into a binding agreement while allowing flexibility for negotiation of specific terms. Under English and Welsh law, it typically includes essential commercial terms, proposed timelines, and any conditional requirements. While primarily non-binding, certain provisions may be explicitly made binding, such as confidentiality obligations. The document helps parties align their expectations and provides a roadmap for the transaction's progression.
