Document background
A Letter Of Intent Commercial (Real Estate) is a crucial preliminary document used in Irish commercial property transactions to establish the foundation for negotiations between parties. It is typically employed when parties have reached an initial understanding regarding a commercial property transaction but before committing to a formal binding agreement. The document outlines key commercial terms, conditions, and timelines while typically maintaining non-binding status for most provisions except specific elements like confidentiality and exclusivity. Under Irish law, this document serves as a stepping stone toward the final agreement, providing clarity on the proposed transaction structure, due diligence requirements, and essential commercial terms. It's particularly valuable in complex commercial property transactions where detailed negotiations and due diligence are required before proceeding to binding agreements.
