Business Term Sheet

I. Introduction

In this section, provide a brief overview of the purpose and scope of the term sheet. Summarize the key points and objectives of the agreement. Ensure clarity and conciseness to set the tone for the rest of the document.

II. Parties Involved

This section identifies the parties involved in the agreement. Clearly state the legal names and roles of each party. Include contact information such as addresses, phone numbers, and email addresses.

[Your Company Name]: The legal entity entering into the agreement.
[Counterparty Name]: The other party involved in the agreement.

III. Transaction Overview

Here, provide a detailed description of the transaction or deal. Include the type of transaction, the assets or services involved, and any specific terms related to the transaction.

Type of Transaction: [Type of Transaction, e.g., Sale of Assets, Partnership Agreement]
Assets/Services Involved: [Description of Assets/Services]
Transaction Value: [Monetary Value or Terms of Consideration]

IV. Terms and Conditions

This section outlines the terms and conditions of the agreement. Specify the rights, obligations, and responsibilities of each party involved.

Term Length: [Duration of the Agreement]
Payment Terms: [Payment Schedule, Currency, and Method]
Delivery/Performance Obligations: [Details of Deliverables or Services]
Warranties and Representations: [Any Warranties or Representations Made by Parties]

V. Confidentiality and Non-Disclosure

In this section, detail the confidentiality and non-disclosure obligations of the parties. Specify what information is considered confidential and the measures for safeguarding it.

Confidential Information: [Definition of Confidential Information]
Non-Disclosure Obligations: [Obligations Regarding Confidentiality]
Exceptions: [Any Exceptions to Confidentiality Obligations]

VI. Governing Law and Dispute Resolution

This section establishes the governing law and procedures for resolving disputes that may arise during the term of the agreement.

Governing Law: [Jurisdiction and Governing Law]
Dispute Resolution: [Procedure for Resolving Disputes, e.g., Mediation, Arbitration, Litigation]

VII. Termination

Here, outline the conditions and procedures for terminating the agreement. Specify any notice requirements and consequences of termination.

Termination Conditions: [Conditions Under Which the Agreement May be Terminated]
Notice Period: [Length of Notice Required for Termination]
Consequences of Termination: [Effects of Termination on Parties]

VIII. Miscellaneous

This section includes any additional provisions or clauses that are relevant to the agreement but do not fit into the preceding sections.

Assignment: [Conditions Under Which the Agreement Can be Assigned]
Amendments: [Procedure for Amending the Agreement]
Entire Agreement: [Statement that the Term Sheet Constitutes the Entire Agreement]