Heads of Terms for Buying or Selling a Company

Description
A heads of terms is an agreement that sets out the terms and conditions of an agreed transaction between the parties involved in a negotiation. Heads of terms has moral force and serious intent, but the parties are not legally compelled to finalise the deal on the terms stated, or even at all. Nevertheless, confidentiality and costs can be binding on the parties.

This template assumes a situation where there is one single company, a buyer and seller, no deposit and a simultaneous exchange and completion. It can, however, be altered and adapted to suit other scenarios.

The capitalised words in squared brackets indicate the areas which need to be changed, or where information needs to be added. To make sure all square brackets (and the words within them) have been removed, simply do a 'Ctrl F' search for '['.