Standard form letter of intent (also known as heads of terms, term sheet or memorandum of understanding), by which the parties outline their intention to buy and sell the business and assets of a privately-owned company incorporated and registered outside the UK. This Standard Document has been prepared on the assumption that there is a single corporate buyer. It includes legally binding provisions relating to the exclusivity of negotiations and costs and assumes that a confidentiality agreement has already been entered into. It has been drafted from the perspective of the buyer.

This document has been adapted from Standard Document, Heads of terms: asset purchases to provide a plain English, UK-style jurisdiction neutral starting point for local counsel to adapt in cross-border transactions.

For a form of letter of intent to use in connection with the cross-border acquisition of all the shares (or equivalent equity interest) in a privately-owned company, see Standard Document, Letter of Intent (UK Style): Cross-Border Share Acquisitions.