A term sheet reflects the broad consensus of two parties on material terms and conditions of a deal.
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A term sheet is a critical document, particularly for an Indian businessman. Months into negotiation and contract drafting, you may find out that there is no agreement on the basics of the contract. A term sheet solves this problem by putting into place a framework for the final contract. The term sheet, therefore, reflects the broad consensus of the parties on the material terms and conditions, such as price, quantity, valuation, due diligence and pre-emption.
A term sheet can be used to iron out differences on the vital parts of any major business agreement prior to the drafting of the actual agreement, thereby preventing an unnecessary expenditure on a company's resources.
Rather than spend time re-drafting a contract that neither party is in agreement with, it makes sense to simply put in place a plan through a term sheet. While specifics of any clause would not be in this contract, it would contain the basics of how they would be arrived at.
Once you send in a request, our representative will get in touch with you to understand your requirements. If further details are required, we will contact you for the same. Once these are in, we will connect you to a verified lawyer, who will prepare the draft and send it to you for review within 3 to 4 working days.
In case you have any clarifications or would like to make changes to the draft, the assigned lawyer will work on them. Two rounds of iterations are included in the original price.
We connect you to verified expert lawyers, who will work on your documents until you're completely happy. You can track the progress on our platform at all times.
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