Letter of Intent to Purchase Assets of Business

Are you planning to purchase the assets of a business? Set down the terms of your offer in writing with this Letter of Intent template.

• The letter of intent is not a legal contract and is not legally binding, except as it relates to the negotiations between the parties, such as confidentiality provisions.
• In this template, the buyer intends to incorporate a new company which will purchase all of the assets and goodwill of the business from the seller.
• The letter has a built-in expiry date, which will take effect if the parties fail to execute and deliver a formal Purchase & Sale Agreement within a specified number of days.
• If the buyer is willing to proceed and the seller fails to go through with the transaction, the seller will pay the buyer's costs and a percentage of the purchase price as liquidated damages.

This generic Letter of Intent to Purchase Business Assets is provided in MS Word format, and is fully editable to fit your circumstances.