A Letter of Intent Project Management is commonly used in Singapore when parties wish to formalize their intention to enter into a project management arrangement before finalizing a detailed contract. This document serves as a crucial stepping stone in project initiation, typically used when the full scope and terms are still being negotiated but parties need to demonstrate commitment and begin preliminary work. It includes key elements such as project scope, timeline, commercial terms, and any exclusivity arrangements. Under Singapore jurisdiction, while not fully binding, certain provisions can create legal obligations. This document is particularly valuable in complex projects where detailed contract negotiations may take considerable time.
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1. Project Identification: Details of the specific project, including location and scope
2. Parties: Identity and contact details of involved parties
3. Intent Statement: Clear statement of intention to engage in project management services
4. Project Scope: High-level overview of project management services to be provided
5. Timeline: Proposed project duration and key milestones
6. Commercial Terms: Preliminary budget and payment terms
1. Exclusivity Period: Period during which parties agree not to negotiate with others - used when exclusive negotiations are desired
2. Confidentiality: Terms for handling sensitive information - used when sensitive information will be shared during negotiations
3. Due Diligence: Process for information verification - used for complex projects requiring detailed investigation
1. Project Brief: Detailed description of project requirements and objectives
2. Preliminary Schedule: Initial project timeline and milestones
3. Organization Chart: Proposed project team structure
4. Fee Schedule: Preliminary breakdown of project management fees
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