Term Sheet - Sale of BusinessA Term Sheet - Sale of Business establishes the general terms of an agreement in the sale of your business.
A Term Sheet - Sale of Business sets out the general idea of the agreement before you proceed to the full agreement. This document is intended to be used as a pre cursor agreement to a Business Sale Agreement. Term Sheet - Sale of Business gives you an overview of the potential agreement in purchasing a business or selling your business. This overview is helpful in conducting your due diligence, and is useful in negotiating a better deal for both parties. It makes it easier for both parties to later reach an agreement, and hopefully lead to a sale of the business.
Use this Term Sheet - Sale of Business if:
- You are looking to purchase a business, and would like to set out some general terms as an overview and/or for negotiation.
What does the Term Sheet - Sale of Business cover?
- The parties to the agreement;
- The assets included in the purchase price;
- The assets excluded in the purchase price;
- The liabilities of both parties;
- The completion date;
- The purchase price;
- The payment terms;
- Any conditions precedent, warranties, costs included;
- Confidentiality clause; and
- Option to be binding.
Other names for Term Sheet - Sale of Business include:
- Sale of Business Pre-Nup; and
- Heads of Agreement to Sale of Business.