Letter of Intent to Purchase Business Assets | Canada
Negotiate the purchase of a Canadian business with this Letter of Intent to Purchase Assets of Business template for Canada.
- A letter of intent is not a legal contract, except for certain provisions such as confidentiality clauses which prohibit either party from disclosing any confidential information belonging to the othe rparty.
- The buyer is offering to purchase all of the assets and goodwill of the business from the seller.
- If the parties fail to execute a formal Purchase & Sale Agreement within a specified number of days, the letter of intent will expire.
- If the seller fails to go through with the transaction for no reason, the seller agrees to pay the buyer's costs and a specified amount as liquidated damages.
- This template LOI can be used in any Canadian province or territory.
- A signed letter of intent signals to other interested parties that you're already in negotiations to buy the business. Download the template and get it in writing now.
Last Updated: 21-April-2021