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Preliminary agreements' substance over form David Thomson, Andy Martin 8 May 2013Preliminary agreements substance over form Anyone who has worked on the early stages of a commercial deal is likely
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Start by obtaining a copy of the preliminary agreement template.
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Review the template thoroughly to understand its clauses and provisions.
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Begin filling out the preliminary agreement by entering the names and contact information of the parties involved.
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Clearly state the purpose of the agreement and the desired outcome.
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Specify the obligations and responsibilities of each party, ensuring that they are clearly defined and concise.
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Include any specific terms or conditions that are important to the agreement.
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Outline the payment terms, including any deposit or down payment requirements.
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Include a provision for dispute resolution or mediation, in case any issues arise during the preliminary agreement process.
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Review the filled-out preliminary agreement for accuracy and completeness.
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Once satisfied, both parties should sign the agreement and retain a copy for their records.
Who needs preliminary agreements - substance?
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Real estate developers or property owners who are planning to sell or lease a property.
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Parties involved in business transactions where preliminary agreements are required, such as mergers, acquisitions, or collaborations.
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