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TANKORP AGREEMENTS WITH INTERNATIONAL GOVERNMENTS
Letter of Intent is essentially a collection of key points of an agreement between TANKORP and the Government that are negotiating the contract; in this respect a Letter of Intent is simply the agreement signed prior to the final contract.
- Clarifying the key points of an operation for the convenience of the parties.
- The statement that the parties are currently negotiating.
- Provides guarantees if the deal collapses during negotiation.
TANKORP Letters of Intent can resemble a written contract but usually not binding on the parties in their entirety. However, the majority of these agreements, contain provisions that are binding, such as non-disclosure and non-compete agreement.
This Letter of Intent serves to confirm the Buyer´s interest and willingness to continue negotiating an International Sale Contract that due to volume or complexity requires a certain period of time to reach agreement. It can also be used to establish the general terms of the Contract and to take into account the advances in the negotiation.
The Letter of Intent is written by the TANKORP (or his Agent o Representative) and is not binding upon the Parties.
This document can be used for international and domestic sales.
Index of the Contract
1. Declaration of understanding
2. Products and capacity of supply
3. Terms of delivery and payment
4. Level of approval
5. Applicable law
6. Period of negotiations