Term sheet
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Term sheet
A term sheet is a non-binding agreement setting forth the basic terms and conditions under which an investment shall be made. It is a template to develop more detailed legal documents. The parties involved reach an agreement on the details laid out in term sheer, a binding agreement or contract conforms to term sheet.
Advantages of term sheet:
Eliminate expenses: It helps in reducing the unnecessary expenditure on the company’s resources.
Time effective: It saves a lot of time and specifies all the basics of the contract.
Procedure
1. A well efficient/competent lawyer from our team shall contact you, and explain you the total process, and will understand the need of terms sheet.
2. Once the objectives of the terms sheet are clear, the lawyer shall draft a sample of terms sheet accordingly.
3. The draft legal term sheet shall be sent to you, for your review.
4. Once you approve it, it shall be served to the other party.
5. The whole process takes around 1-2 working days.
