The term “Heads of Agreement” is most often used in Australia, New Zealand and the United Kingdom. A Heads of Agreement is a non-binding document that defines the basic terms of a preliminary partnership agreement or transaction. Also known as “Heads of Terms” or “Letter of Intent”, a “Heads of Intent” marks the first step towards a fully binding agreement or contract and a directive on the roles and responsibilities of the parties to a potential partnership before binding documents are developed. Such a document is often used in commercial transactions, for example. B when buying a business. Since most aspects of an agreement are not binding, there is little recourse for non-compliance by either party. Indeed, they only apply to the legally binding conditions set out above.
Tentative Agreement Betekenis