Document background
A Letter of Intent for a Project is commonly used in Singapore when parties wish to formally express their intention to proceed with a project while maintaining flexibility for detailed negotiations. This document serves as a crucial stepping stone between initial discussions and final agreements, typically including project scope, key commercial terms, timelines, and any binding obligations such as confidentiality or exclusivity. Under Singapore law, careful attention must be paid to clearly distinguish between binding and non-binding provisions to avoid unintended legal obligations. The document is particularly valuable in complex projects where detailed agreements may take significant time to negotiate.
