Drafting heads of terms that set out the key commercial terms of a proposed business sale or acquisition clearly, before the detailed legal documents are prepared. A well-drafted set of heads of terms reduces the risk of misunderstanding and wasted legal costs later in the transaction.
What’s included:
• A consultation to understand the key commercial terms of the proposed deal.
• Drafting of heads of terms covering price, structure, conditions, exclusivity, confidentiality, and timetable.
• One round of revisions based on your feedback.
• Final version ready to issue to the other party.
What’s not included:
• Negotiation with the other party beyond the scope described above.
• Drafting the detailed transaction documents (SPA, APA, disclosure letter, etc.).
• Tax advice (including VAT, corporation tax, income tax, capital gains tax, and stamp duty). If specialist tax advice is needed, I can recommend a suitable accountant or tax adviser.
FAQ
Q: Are heads of terms legally binding?
A: Most provisions in heads of terms are not legally binding — they record the commercial deal in principle. However, certain clauses (such as confidentiality, exclusivity, and costs) are usually intended to be binding. I will make this clear in the drafting.
Drafting heads of terms that set out the key commercial terms of a proposed business sale or acquisition clearly, before the detailed legal documents are prepared. A well-drafted set of heads of terms reduces the risk of misunderstanding and wasted legal costs later in the transaction.
What’s included:
• A consultation to understand the key commercial terms of the proposed deal.
• Drafting of heads of terms covering price, structure, conditions, exclusivity, confidentiality, and timetable.
• One round of revisions based on your feedback.
• Final version ready to issue to the other party.
What’s not included:
• Negotiation with the other party beyond the scope described above.
• Drafting the detailed transaction documents (SPA, APA, disclosure letter, etc.).
• Tax advice (including VAT, corporation tax, income tax, capital gains tax, and stamp duty). If specialist tax advice is needed, I can recommend a suitable accountant or tax adviser.
FAQ
Q: Are heads of terms legally binding?
A: Most provisions in heads of terms are not legally binding — they record the commercial deal in principle. However, certain clauses (such as confidentiality, exclusivity, and costs) are usually intended to be binding. I will make this clear in the drafting.