Letter of Intent to Purchase Product

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Letter of Intent to Purchase Product

[DATE]

Dear [RECIPIENT NAME],

This Letter of Intent is drafted to address the mutual interests and benefits of [YOUR NAME] (“Buyer”) and [NAME 1] (“Seller”). Set forth herein are terms regarding the possible acquisition of the buyer, of products from [COMPANY NAME] as defined below, owned by the Seller. This Letter shall be executed to summarize the discussions between Parties to date, regarding the purchase of certain products (“Transaction”) to confirm the respective intentions of the parties regarding the purchase.

TRANSACTION

Buyer intends to purchase from Seller the following products, with the listed specifications:

Product Description
Quantity
[DETAILS]
[NUMBER]
[DETAIL 1]
[NUMBER 1]
[DETAIL 2]
[NUMBER 2]

Outlined in this letter are the terms and conditions to be included in a future sales agreement, including, but not limited to other representation, warranties, and conditions as agreed upon by participating parties. The Parties shall thereby agree that it is to the best of their interests to bring the Transaction to fruition, and thus negotiate their Sales Agreement in good faith.

PURCHASE PRICE: No purchase price for the set transaction has been listed at this time. Purchase price shall be agreed upon and finalized in the Sales Agreement.

DELIVERY OF PRODUCTS: Seller shall ship or deliver the purchased products to the Buyer. Title to said products as well as the Risk of Loss shall pass to the Buyer upon shipment of agreed upon purchases.

WARRANTIES: Buyer shall purchase Products on an “as is” basis, and Seller shall expressly disclaim warranties.

EXPENSES: Each of the Parties shall be made responsible for their own costs and expenses associated with the sales, negotiation, and execution of this Letter, as well as the terms outlined in the Sales Agreement.

TERMINATION: This Letter shall automatically be terminated upon the earliest commencement of any of the following:

execution of Sales Agreement
mutual written agreement between the Buyer and the Seller
[EXPIRY DATE]

GOVERNING LAWS: This Letter, as well as all the other matters connected herein, shall be governed by, and construed in accordance with the laws of [COUNTRY/STATE/PROVINCE], and shall not conflict with existing laws and principles. Sections in conflict with existing laws shall not be considered enforceable.

NON-BINDING AGREEMENT: This letter shall be considered as a reflection of the parties’ intended transaction. Neither this letter nor its acceptance shall be constituted to create a legally binding or enforceable contract either the Buyer or the Seller, with the exception of the provisions regarding Expenses, Termination, as well as the Governing Law.

Neither agreement nor obligation regarding the Transaction shall be deemed existing between Parties and any of their respective affiliates, unless the corresponding Sales Agreement shall have been executed and delivered. Such terms shall only be acted upon in accordance with the terms and conditions as stated in such Sales Agreement.

MISCELLANEOUS: This Letter contains in its entirety the understanding between both parties and supersedes all previous agreements, if any. This letter may only be amended, supplemented, or otherwise modified in writing and only when signed by either Party or their duly authorized representatives. Both Parties may execute this Letter in counterparts; however, each part shall be deemed an original and shall all together constitute a single, enforceable document until its termination, or until superseded by the Sales Agreement.

If the terms and conditions set forth in this document are deemed acceptable, please sign and return this Letter to the Undersigned.

Regards,

[YOUR SIGNATURE]

[YOUR NAME]

Agreed to and accepted by

Seller Full Name : [NAME]