Letter of Intent to Purchase Equipment
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A well-formatted and free to download letter of intent for purchasing equipment from a seller. This is easy to edit and fully customizable in all versions of MS Word, Apple Pages, and Google Docs.
Dear [RECIPIENT NAME],
This Letter of Intent is addressed to [RECIPIENT NAME], and it sets forth the interests of [YOUR NAME] (“Buyer”) and [RECIPIENT NAME] (“Seller”), regarding the acquisition of equipment, all of which are currently owned by the Seller.
This Letter is therefore executed with the intent to summarize the discussions between parties to date. It shall discuss in detail the purchase of equipment (“Transaction”) as well as confirm the intentions of the parties with respect to the said purchase.
The Buyer intends to purchase from Seller the equipment and its corresponding specifications as listed below:
Description of Equipment
Furthermore, this Letter serves to outline the terms and conditions included in the future definitive sales agreement, including other representations, warranties, and conditions, among others, as the Parties may initially agree upon. The Parties thereby agree that it is in their best interest to bring about the Transaction and thus negotiate the Sales Agreement in good faith.
PURCHASE PRICE: No purchase price for the set transaction is listed. Purchase price will be discussed and finalized upon the execution of the Sales Agreement.
DELIVERY OF EQUIPMENT: Seller shall ship/deliver the Equipment listed, to the address indicated by the Buyer. Title to said Equipment as well as the Risk of Loss shall pass on to the Buyer upon shipment or delivery.
WARRANTIES: The Buyer shall purchase the Equipment on an “as is” basis. [DETAIL 3].
EXPENSES: The Parties shall be responsible for each of their own costs and expenses associated with the negotiation and execution of this Letter, including the the Sales Agreement, which will be drafted at a later date.
TERMINATION: This Letter shall automatically be terminated upon the commencement of one of the following:
Execution of Sales Agreement
Mutual written agreement between the Buyer and the Seller
Expiration of Letter on [EXPIRY DATE]
GOVERNING LAWS: This Letter, as well as all matters regarded herein shall be governed by, and construed in accordance with the laws of [COUNTRY]. No section of this Letter shall thereby conflict with existing laws and principles of the State.
NON-BINDING AGREEMENT: This Letter is intended only as a reflection of the intention of both Parties. Neither this letter nor its acceptance shall constitute nor create a legally binding or enforceable contract on either Party, except the areas regarding Expenses, Termination, and Governing Law. Neither agreement nor obligation regarding Transaction shall be deemed existing between Parties and any of their respective affiliates, unless and until the Sales Agreement shall have been executed and delivered. Such existing transactions shall only be effective in accordance with the terms and conditions as stated in such Sales Agreement.
MISCELLANEOUS: This Letter outlines the understanding between Buyer and Seller. It supersedes all previous agreements, verbal or written, if any. This letter may only be amended, supplemented, or otherwise modified in writing and only when signed by the parties or any of their duly authorized representatives. This Letter may be accomplished in segments. However, each segment shall be deemed exact and shall constitute one and the same document.
If the both parties agree to the terms and conditions outlined in this Letter, please sign and return this Letter of Intent to Purchase to the Undersigned.
Agreed to and accepted by:
Seller Full Name: [RECIPIENT NAME]
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