Letter of Intent for Offshore Joint Venture
This Letter of Intent summaries negotiations between participants in an offshore joint venture who plan to set up a foreign corporation in the target country.
- The new foreign corporation will be formed solely for the purpose of the joint venture business.
- Each of the joint venturers will hold shares in the new corporation.
- Each of the co-venturers will contribute certain assets and take on responsibilities, such as arranging financing for the joint venture.
- The parties will bear their own respective expenses.
- If a binding formal agreement is not signed by the drop-dead date, the parties can terminate the negotiations without liability.
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Last Updated: 14-April-2016