Download Non Binding Purchase Agreement - Singapore

Non Binding Purchase Agreement for Singapore

Non Binding Purchase Agreement Template for Singapore

A Non-Binding Purchase Agreement under Singapore law is a preliminary document that outlines the proposed terms of a potential purchase transaction without creating legally binding obligations. It serves as a framework for negotiations while explicitly stating that parties are not legally bound by its terms. The document incorporates Singapore contract law principles while maintaining flexibility for parties to negotiate and modify terms before entering into a binding agreement.

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What is a Non Binding Purchase Agreement?

The Non-Binding Purchase Agreement is commonly used in Singapore business transactions as a preliminary step before finalizing a binding purchase contract. It allows parties to document their initial understanding and proposed terms while maintaining flexibility during negotiations. This document typically includes details about the potential transaction, proposed pricing, timeline, and any conditions precedent, while explicitly stating its non-binding nature. It's particularly useful in complex transactions where parties need to document their discussions and conduct due diligence before committing to a binding agreement.

What sections should be included in a Non Binding Purchase Agreement?

1. Parties: Identification and details of all parties involved in the agreement

2. Background: Context and purpose of the agreement

3. Definitions: Key terms used throughout the agreement

4. Non-Binding Nature: Clear statement that the agreement is not legally binding

5. Subject Matter: Description of goods/services to be purchased

6. Pricing and Payment Terms: Proposed pricing structure and payment arrangements

What sections are optional to include in a Non Binding Purchase Agreement?

1. Confidentiality: Terms regarding confidential information - include when sensitive information is shared

2. Due Diligence: Process for evaluating the purchase - include for complex or high-value transactions

3. Timeline: Proposed schedule for the transaction - include when timing is important

4. Exclusivity: Terms of exclusive negotiations - include when parties want exclusive negotiating rights

What schedules should be included in a Non Binding Purchase Agreement?

1. Product Specifications: Detailed description of goods/services to be purchased

2. Pricing Schedule: Detailed breakdown of prices and payment terms

3. Timeline Schedule: Detailed timeline of proposed transaction steps

4. Due Diligence Requirements: List of required documentation and information

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Vehicle Hire Purchase Agreement

A Singapore-law governed agreement for purchasing vehicles through installment payments, regulated by the Hire-Purchase Act.

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Download a Standard Template

What is a Non Binding Purchase Agreement?

What sections should be included in a Non Binding Purchase Agreement?

What sections are optional to include in a Non Binding Purchase Agreement?

What schedules should be included in a Non Binding Purchase Agreement?

Authors

Alex Denne

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