The Letter Of Intent For Diesel Purchase is commonly used in Singapore's commercial sector when parties wish to formalize their preliminary agreement for substantial diesel fuel transactions. This document typically precedes a formal purchase agreement and outlines essential terms while allowing for due diligence and detailed negotiations. Under Singapore's regulatory framework, it must consider various aspects including environmental protection, safety standards, and licensing requirements. The LOI serves to demonstrate serious intent while protecting both parties' interests during negotiations.
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1. Intent Declaration: Clear statement of intention to purchase diesel and establish business relationship
2. Parties: Identification of potential buyer and seller with full legal names and addresses
3. Product Description: Specification of diesel type, grade, and quality standards to be supplied
4. Commercial Terms: Proposed quantity, pricing structure, and delivery arrangements
5. Duration: Timeframe for which the Letter of Intent remains valid
6. Non-Binding Nature: Statement clarifying which provisions are binding and non-binding
1. Exclusivity: Terms of exclusive negotiation period, if parties wish to negotiate exclusively
2. Confidentiality: Provisions for protecting confidential information exchanged during negotiations
3. Due Diligence: Framework for conducting quality and compliance verification if required before formal agreement
4. Conditions Precedent: Any prerequisites or conditions that must be met before proceeding to formal agreement
5. Governing Law: Specification of Singapore law as governing law, if parties want this clause to be binding
1. Product Specifications: Detailed technical specifications of diesel fuel including quality parameters
2. Proposed Delivery Schedule: Indicative timeline and logistics for diesel deliveries
3. Price Schedule: Detailed breakdown of proposed pricing structure and payment terms
4. Compliance Documents: Copies of relevant licenses, permits, and certificates required under Singapore law
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