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LETTER OF INTENT - PURCHASE OF PROPERTY

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LETTER OF INTENT - PURCHASE OF PROPERTY

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Basic Info

  • Applicable Region UAE
  • Available Languages
    English
    English & Arabic
  • Document No 0000280
  • Version V 1.0
  • Last Updated 07-06-2023
  • Reviews 0
Document Summary

This is a non-binding letter between two parties that enables and facilitates the ability of the Parties to negotiate in good faith the execution of a final and binding contract. This letter sets forth certain terms and conditions to be included in a future definitive purchase agreement.

Description

This letter doesn’t create a binding agreement between the purchaser and the seller and establishes only the basic terms to be used in a finalized contract. This letter contains the following parts:

1.     Transaction

2.     Purchase price

3.     Personal property

4.     Closing

5.     Inspection

6.     Seller’s representations

7.     Risk of loss

8.     Expenses

9.     Governing law

10.  Termination

11.  Non-binding

12.  Miscellaneous

Jurisdiction

This document is intended for use in the United Arab Emirates.

Before Execution

- The information on this front page or contained in the headers and footers of this instrument are for guidance purposes only.

- Please delete this front page together with the information contained in the headers, footers and the endnotes prior to circulating this letter. Where square brackets […] and highlights are used in the document, it indicates that there is missing or incomplete information which will need to be incorporated prior to signature.

- Please remove the square brackets and all highlighting prior to signature.