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Letter Of Intent To Purchase Business

Letter Of Intent To Purchase Business Template for United Arab Emirates

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Key Requirements PROMPT example:

Letter Of Intent To Purchase Business

"I need a Letter of Intent to Purchase Business for acquiring a technology startup in Dubai's Silicon Oasis Free Zone, with a proposed purchase price of AED 5 million and an exclusivity period until March 2025, including specific provisions for protecting the intellectual property rights."

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Document background
A Letter of Intent to Purchase Business is a crucial preliminary document in business acquisitions within the United Arab Emirates. It serves as a formal expression of interest and outlines the basic terms and conditions under which a potential buyer intends to acquire a business. While predominantly non-binding, it establishes the framework for negotiations and includes essential elements such as proposed purchase price, payment structure, exclusivity period, and confidentiality obligations. The document must comply with UAE Federal Law No. 32 of 2021 and related regulations, particularly regarding foreign ownership restrictions and business transfer requirements. It's typically used after initial discussions but before detailed due diligence and final purchase agreements, helping parties align their expectations and establish a clear pathway toward the transaction's completion.
Suggested Sections

1. Letter Header: Formal business letter heading including date, addressee details, and reference number

2. Subject Line: Clear statement indicating this is a Letter of Intent for Business Purchase

3. Introduction: Identification of the parties and their roles (potential buyer and seller)

4. Business Description: Clear identification of the target business and its current ownership

5. Purchase Intent: Clear statement of intention to purchase the business

6. Proposed Terms: Key commercial terms including proposed purchase price and payment structure

7. Due Diligence: Statement regarding the need and timeline for due diligence process

8. Exclusivity: Period during which the seller agrees not to negotiate with other parties

9. Confidentiality: Statement regarding confidentiality of negotiations and information exchange

10. Timeline: Proposed timeline for completing the transaction

11. Non-Binding Nature: Clear statement that the LOI is non-binding except for specified clauses

12. Closing: Formal letter closing with signature blocks for both parties

Optional Sections

1. Deposit Terms: Include when a good faith deposit is part of the transaction

2. Financing Contingency: Include when the purchase is subject to obtaining specific financing

3. Employee Retention: Include when there are specific intentions regarding existing employees

4. Regulatory Approval: Include when the transaction requires specific regulatory approvals

5. Post-Closing Support: Include when seller's assistance post-transaction is required

6. Non-Compete Provisions: Include when preliminary non-compete terms need to be established

Suggested Schedules

1. Schedule A - Business Information: Basic information about the business including legal structure, licenses, and locations

2. Schedule B - Preliminary Price Calculation: Overview of the proposed purchase price structure and key financial terms

3. Schedule C - Key Assets: Preliminary list of major assets included in the proposed transaction

4. Schedule D - Due Diligence Requirements: Initial list of documents and information required for due diligence

5. Schedule E - Timeline: Detailed proposed timeline for key transaction milestones

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions

























Clauses























Relevant Industries

Retail

Manufacturing

Technology

Healthcare

Hospitality

Professional Services

Real Estate

Construction

Trading

Education

Food and Beverage

Logistics

Financial Services

Media and Entertainment

Automotive

Relevant Teams

Legal

Finance

Corporate Development

Strategy

Mergers & Acquisitions

Executive Leadership

Business Development

Due Diligence

Commercial

Risk Management

Compliance

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Managing Director

Business Development Manager

Corporate Lawyer

Legal Counsel

Investment Manager

Mergers & Acquisitions Director

Business Owner

Finance Director

Strategy Director

Commercial Director

Company Secretary

Due Diligence Manager

Corporate Development Officer

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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