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Letter of Intent supply agreement

Letter of Intent for Exclusive Supply and Development

  1. This Letter of Intent for Exclusive Supply and Development Agreement is generic (not country specific) and fully editable to fit your particular circumstances. Download Type: Microsoft Word Last Updated: 18-April-2021 SKU: 6019. Share: Customers who bought this item also bought. Letter of Intent for Manufacturing Joint Venture. $29.99. Add to cart. Letter of Intent for Exclusive Distributor.
  2. This Letter of Intent contemplates that the parties will negotiate the definitive license, research and supply agreements (the Agreements) and complete such further due diligence as may be needed by not later than July 15, 1998. It is the intent of the parties that the parties will meet to begin preparation of the Agreements by May 20, 1998. This Letter of Intent is being entered into to confirm our understanding of the principal terms and conditions of the transaction and our.
  3. This binding letter of intent (Letter) will confirm our prior discussions regarding amending the Supply Agreement and entering into a business arrangement to relieve the Parties of their respective purchase and supply obligations under the Supply Agreement (the Proposed Transaction). This Letter supersedes any prior letters or discussions regarding the Proposed Transaction. This Letter is intended to create binding legal and contractual obligations of the Parties with respect to.

A Letter of Intent is a written document that outlines a preliminary agreement between two parties regarding the terms of a potential purchase or other transaction. Think of it as a road map as to how the negotiation and deal will proceed. The two parties can settle on certain terms while agreeing to continue to negotiate the other terms and details of the transaction before actually signing a purchase agreement Letter Of Intent For International Distribution Agreement. This non-binding expression of interest (EOI) An Expression of Interest (EOI) is one of the first transaction documents that the buyer shares with the seller as part of a potential ATM agreement U.S.-made or designated country end products as defined in 52.225-5 Trade Agreements. Must specifically list each category of product and/or brand name(s) to which the letter applies. NOTE: The following is a sample letter of supply/commitment: [Date] [Offeror Name] [Offeror Point of Contact (POC)] [Address] [City, State, Zip code] Re: Letter of Supply Letter to Request Supply Goods. Dear Sir. It is to inform you that the contract agreement for the supply of electricity and water supply items has been concluded and finalized against your lowest bid. In this context, your supply order has already been issued to you to supply the store accordingly. Therefore, writing this letter is meant to.

signed by both parties; and (c) may be signed in counterparts, each of which shall constitute one and the same instrument. The captions used in this letter of intent are for convenience only and shall not affect the interpretation of thi The Letter of Intent is sometimes used to define terms before the expense or time of preparing a contract. Let me clear that the LOI is nonbinding and is used only for guidelines with which to prepare documents. Often I see items in the LOI that the Seller may not want to agree to when the Contract is prepared. Then it is appropriate to prepare a Counter to the LOI. Even when these are signed by the Buyer and Seller it is still not binding

Letter of Intent for Supply and Development Agreement

A Letter of Intent is a formal document used in businesses at the time of contracts and deals. It is also known by the name of a Cover Letter. The letter is used to give information about the contract, i.e. who are the dealers involved in the contract, price of the deal, mergers and its impact, etc. Try to use a very professional language and do not add unnecessary details in the Letter of Intent. Below are certain guidelines that will help you in preparing an effective letter for. A letter of intent (LOI) outlines a broad agreement that will be negotiated in good faith between two (2) parties. The letter expresses the intent of both parties that will be the basis of a formal contract. It is recommended to include a clause stating whether the document is binding or non-binding to avoid legal issues. If not, a court may deem any of the terms mentioned in the letter as binding and enforceable What is a Letter of Intent (LOI)? A Letter of Intent (LOI) is a short non-binding contract that precedes a binding agreement, such as a share purchase agreement or asset purchase agreement (definitive agreements Definitive Purchase Agreement A Definitive Purchase Agreement (DPA) is a legal document that records the terms and conditions between two companies that enter into an agreement for a merger, acquisition, divestiture, joint venture, or some form of strategic alliance

Binding Letter of Intent - SE

  1. A letter of intent is a document that sets forth the key terms agreed upon by the parties during negotiations prior to reaching a final, definitive agreement. A letter of intent may be used for a manufacturing agreement, share purchase agreement, services agreement, development agreement, and supply agreement
  2. A letter of intent is a non-legally binding document between two parties that intend to enter into a business transaction with each other. With this letter, parties agree that they aim to formalize the transaction with a legally binding agreement. You can use an LOI for various agreements that involve material transactions, including joint venture agreements, merger and acquisition transaction agreements and real property lease agreements
  3. A Letter of Intent, also sometimes called a Letter of Understanding, is a written document in letter form that is sent by a party looking to build a final contract. The letter is sent to the other potential contract party and it usually contains the bare bones of the agreement between the parties

Letter of Intent (LOI) Template & Sample [Free PDF Example

Letter Of Intent For International Distribution Agreement

In furtherance of the discussions between Supplier and Distributor regarding an exclusive business relationship, this Letter of Intent is intended to summarize and set forth the preliminary and non-binding understanding between the parties with respect to the terms and conditions upon which a formal agreement would be drawn up The Letter of Intent (LoI) Framework Agreement (FA) Treaty was signed on 27 July 2000 by the defence ministers of France, Germany, Italy, Spain, Sweden and the UK.It aimed to create the political. LETTER OF SUPPLY TEMPLATE Offerors/Contractors - Please note this Letter of Commitment/Supply Template is the GSA template. Please forward this approved letter to your supplier with the appropriate Solicitation number (if for a new offer) or Contract number (if adding a new product or product line or contract extension) Please note: all Letters of Supply/Commitment must specify the item

of intent, sometimes referred to as a letter of agreement or letter of acceptance (LOI). This alert raises and comments on the critical issues for an Owner or Developer to consider if it is contemplating proceeding with construction before executing a contract with its Contractor (or design with its consultant). The primary disadvantages for an Owner in relation to many LOIs are as follows. LETTER OF INTENT The purpose of this letter of intent (Letter) is to outline certain of the terms and conditions of a proposed purchase (the Acquisition) by (Buyer), of substantially all of the assets of (Seller) a Illinois corporation (Seller). It is anticipated that the Acquisition will be consummated as soon as possible after your acceptance of this Letter on.

1 Letter of Commitment/Supply* Offerors/Contractors - Please note this Letter of Commitment/Supply Template is the GSA template for Schedule 75. Please forward this approved letter to your supplier with the appropriate Solicitation number (if for a new offer) or Contract number (if adding a new product or product line or contract extension) [Submit on Supplier** Letterhead Contract, the Supplier shall be liable to make good to the Purchaser all loss and damage occasioned by such failure, including any reasonable price (whether greater than the appropriate Contract price or not) paid by the Purchaser in purchasing the Goods on which default has been made, from a source other than the Supplier. In such an event the Purchaser shall be at liberty to retain the. This Letter of Intent (LOI), entered into on the date above, is a non-binding agreement between Customer and Secure Futures, LLC (Secure Futures) (together the Parties), memorializing the mutual expression of good faith of the Parties to explore Secure Futures providing solar services to the Customer under a 20-year binding Powe b. Failure of the seller to supply the agreed products or breach of any other term of the agreement. In this case, the seller shall compensate for damages occurred from this non performance the buyer. c. Occurrence of a force majeure situation, according to clause 4 that prevent the parties from continuing the fulfillment of the agreement

This Contract template can also serve as a guide for manufacturers and distributors of products that must negotiate the terms and conditions of logistics services that they will hire. The language of this contract is English. It is also available in Spanish. 30% Discount for the purchase of 2 or more products The International Supply Contract is used to establish long-term agreements (i.e. over a year) between a manufacturer (referred to here as the Supplier) and its client (the Buyer) for the supply of products at prearranged prices. Transactions are carried out through regular orders (every month, or every three months, etc.). The contract establishes the minimum and maximum amounts to be. LawDepot's Letter of Intent is non-binding, meaning that the parties are not legally required to follow through with the terms of the agreement. The LOI acts as a foundation for a definitive agreement. By agreeing to the Letter of Intent, both parties intend to continue negotiations in good faith The character of our agreement. Being purely a 'business letter of intent,' this letter is no way binding. On the contrary, it merely indicates an intention to work with you. Feel free to reach us for a change of course or mind. If after reading the explanations above, you find our terms favorable, we now ask that you countersign the letter and return it to us within the shortest duration. A letter of intent (LOI) outlines the terms of a deal and serves as an agreement to agree between two parties

Sample Request Letter for Supply of GoodsSemiOffice

this letter of intent does not constitute or create, and shall not be deemed to constitute or create, any legally binding or enforceable obligation on the part of either party to this letter of intent. no such obligation shall be created, except by the execution and delivery of the purchase agreement and employment agreements containing such terms and conditions of the proposed transactions as. A letter of intent (LOI) is a document that someone uses in order to declare their intent to do something, such as make a purchase, apply for a job or education program, or to clarify points in a business transaction. They are written in letter format, and signed by one party (the party writing it). Since it is not a contract, it is not usually a binding agreement Letter of Intent vs Purchase Contract. Would you like to save some time and expense? Most people - including buyers and sellers of businesses - would. One way to do that is to initiate negotiations for acquiring a business by using a Letter of Intent (LOI) rather than a contract to purchase. Granted, a purchase contract will be needed at some point but the preparation of the purchase. A Definitive Supply Agreement is expected to be completed on or about than April 2, 2021. Founder, from our outdoor flower has created interest in the market and has translated into SpeakEasy's first significant letter of intent for a processing and supply arrangement. Concentrates, pre-rolls and flower as a finished product constitute the majority of the products contemplated under this.

), a Letter of Intent (LOI) is a written expression of the parties' intent to enter into a transaction and a summary of the material terms of the deal. Below is a letter of intent written for a sample business transaction. It contains a lot of legal jargon but Small Business Deal Advisors is experienced with these documents and will guide you through LOIs submitted for your business This document is a non-binding letter which allows both parties to provide confirmation that they intend to reach a formal contract at some time in the future. Such a document may be used by one party or both to provide assurances to finance providers, landlords or other bodies that it is anticipated that a contract will be concluded shortly

Binding Letter of Intent for European Distributio

  1. Letter of intent sample form, loi. A letter of intent, commonly known as a LOI can be used by a Purchasing Manager to move a tender result forward.You are ready to take the next step with a vendor or supplier in respect to an offer which has been made and it is usually in response to a formal tender, request for quote or request for proposal your company previously issued
  2. Find out when a letter of intent (LOI) is binding and non-binding. Understand the role of drafting language, and when an LOI is treated like a contract
  3. A letter of intent describes a potential agreement between two or more parties. It is not a final agreement and should not sound like one. If the language of the document is too definite, the letter may be treated like a full and complete contract. Your language should show that you are proposing negotiations about a transaction but are not committing to the terms of the deal
  4. Letter of Intent; Contract Formation; Liability. 1. INTRODUCTION The purpose of a letter of intent is to enable a party to commence work at the request of another at a time when, for one reason or another, a full formal contract cannot be executed by the parties. A letter of Intent ordinarily expresses an intention to enter into a contract in the future (Furst & Ramsey, 2006). They are used.
  5. The terms of the binding interim contract function as the terms of the final contract.In Diamond Build Limited v Clapham Park Homes Limited [2008] EWHC 1439 (TCC), the letter of intent stated that if a final contract was not executed, then the employer would reimburse the contractor for works up to a cap of £250,000. As the final contract was never concluded the Court held that the interim.
End Of Lease Letter Template Examples | Letter Template

This Letter of Intent (LOI) is designed for a solar power purchase agreement (PPA). The LOI contains binding and non-binding commitments between the solar developer and customer (host) while final PPA documents are completed. Key terms covered in this LOI include an exclusivity period, proprietary rights, system s A Letter of Intent (LOI) is generally an informal way of reflecting an agreement in principal between two or more parties who either haven't worked out all the details of their relationship or aren't legally in a position to make a commitment yet. In the construction world, they are primarily used to pin down a subcontractor or supplier to a bid or quote, even though the award to the. LETTER OF INTENT TO PURCHASE REAL ESTATE The purpose of this letter is to set for the some of the basic terms and conditions of the proposed purchase by the undersigned (the Buyer) of certain real estate owned by you (the Seller). The terms set forth in this Letter will not become binding until a more detailed Purchase Agreement is negotiated and signed by the parties, as. more like a definitive agreement. Even if a letter of intent is drafted and signed, it does not guarantee that a final or definitive agreement will be reached. This is true even if both parties fulfill their obligations and work purposefully through negotiations. The letter is simply an agreement to begin the process, and not a promise of the closing of a transaction. Letters of intent are.

Breaking Lease Agreement Letter Template Collection

The Difference between and the Letter of Intent and the

A letter of intent (LOI or LoI, and sometimes capitalized as Letter of Intent in legal writing, but only when referring to a specific document under discussion) is a document outlining the understanding between two or more parties which understanding they intend to formalize in a legally binding agreement.The concept is similar to a heads of agreement, term sheet or memorandum of understanding A letter of intent is a non-binding agreement between the parties in a proposed business deal: an acquisition, merger, or joint venture. It may lead to a binding agreement called a definitive agreement. Some of the provisions in the LOI may be binding to the parties, and the LOI should make it clear which ones are and which ones aren't

Sales Agreement Form: Free Sales Contract Template | Legal

Letter Of Intent Agreement - Letters

Speakeasy Signs a Non-binding Letter of Intent for a Supply Agreement News provided by. Speakeasy Cannabis Club Ltd. Mar 27, 2021, 17:30 ET. Share this article. Share this article /THIS NEWS. Speakeasy Signs a Non-binding Letter of Intent for a Supply Agreement. Canada Newswire Mar 27, 2021 05:30 PM EDT. Canada NewsWire /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES / ROCK CREEK, BC , March 27, 2021 /CNW/ - SpeakEasy Cannabis.

The Letter of Intent covers vaccine development, production and distribution. It commits to production of the vaccine in Australia, subject to safety and effectiveness. A final formal agreement will include distribution, timing and price of the vaccine. Becton Dickinson has been contracted to supply vital consumables, such as needles and. A letter of intent is not an agreement and cannot be enforced because it is just a document that lays out serious intent of the writer to execute specific business tasks but it has some legal importance for instance a purchaser can reserve some goods until the final decision and the supplier will be liable to keep the things reserved. A letter of intent should be written carefully because it. Franchises. Stock Form Complete. This form is a Letter of Intent for a Stock Purchase. The letter serves as a basis upon which a shareholder would be interested in acquiring the outstanding stock of a particular corporation. Each party agrees not to disclose the contents of the letter o

FREE Proposal Letter to Supply Products Template - Word

Free Letter of Proposal to Supply Materials and Labou

  1. Collection of letter of intent to lease template that will completely match your requirements. When writing a formal or company letter, presentation style as well as format is key making an excellent impression. These layouts supply outstanding examples of ways to structure such a letter, as well as include exampl
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  3. 13 Construction Letter Of Intent Template Samples. September 2, 2019 by diabetescured. Collection of construction letter of intent template that will perfectly match your needs. When composing an official or organisation letter, discussion style as well as layout is crucial to earning a good impression. These design templates supply outstanding.

Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Suppor Graphene Leaders Canada Inc. and Eagle Graphite are pleased to announce the signing of a non-binding Letter of Intent between the companies. The Letter of Intent is the culmination of a series of. Letter template detail: subcontractor letter of intent template - Letter of Intent Agreement The Letter of Intent Agreement is intended for two parties who intend to enter into a contract This Letter of Intent is not a. Source: pinterest.co.uk. See also these example below The Letter of Intent is the culmination of a series of successful trials of Eagle's flake graphite for purposes of producing GLC's highly advanced graphene formulations. GLC and Eagle have agreed to immediately commence preparation of a Definitive Supply Agreement, with key aspects reflecting the following objectives

Supply Agreement Commercial contracts - Blatter Lega

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Top 5 Free Distributor Agreement Templates - Word

Global Supply Chain Collaboration. The Global Supply Chain Collaboration Suite supports collaborative work processes at the points along the supply chain where retail trading partners interact. sample letter of intent to supply gas global supply chain software,global supply chain management,identify the advantages disadvantages of a technology. Binding offer or letter of intent. In a buying or selling transaction, a formal agreement on the main aspects of the sale is usually required for both parties. In M&A, this is known as a binding offer or letter of intent. This offer formally guarantees you that the intention of your counterpart is the same as yours LETTER OF INTENT IRREVOCABLE CORPORATE PURCHASE ORDER We, PLEASE SUBMIT FCO / PLEASE SUBMIT CONTRACT [Delete the one that does not apply] We understand that any and all offer's and/or contracts are subject to successful seller verification of funds availability. We hereby give our permission for the seller / sellers mandate to conduct a soft probe of our account as listed below. GSA Letter of Supply. If your firm wants to obtain a GSA contract but does not manufacture the products it sells, then a letter of supply is needed. GSA sometimes also refers to this as a Letter of Supply (LOS), or occasionally a L etter of Commitment. This requirement is noted in Clause I-FSS-644 - Dealers and Suppliers of the Solicitation Letter of Intent Samples Send a vendors/suppliers letter when you want to communicate information about or to a vendor or supplier, such as a vendor that provides services to your company. Usually, vendor and supplier letters are professional in tone and style, but they can also be more informal and conversational, depending on the situation and context. The style and wording you use in a.

10 Free Sample Letters of Intent - MS Office Document

Ein Letter of Intent (LoI) ist eine unverbindliche Absichtserklärung, die bestätigt, dass die Parteien des LoI in Verhandlungen über einen Vertragsabschluss stehen. Zum Teil wird unter einem LoI eine einseitige Fixierung der Verhandlungsposition des Absenders verstanden. In der Praxis wird der LoI aber oft als von beiden Parteien zu unterzeichnendes Dokument verwendet. Eingesetzt werden. Letter of intent is in some countries legally binding, meaning that company which sent the letter of intent to the another might face some penalties or charges in the case it fails to take actions in accordance with the letter of intent. Letter is typical formal business letter and follows the classic layout. When writing a letter of intent to purchase following details have to be specified; 1. Example Letter, Business Letter Template, Job Application Letter, Cover Letter, Official Letter, Formal Letter Format, Write a Letter, Agreement EXAMPLE LETTER: Search results for Sample Letter Of Intent To Supply Purified Wate Sample Letter of Intent. For an explanation of this agreement see Information File Overview of Letters of Intent File. <<date>> <<addressee>> <<address>> <<address>> <<address>> RE: CONFIDENTIAL LETTER OF INTENT. Greetings: The purpose of this Letter of Intent (Letter) is to set forth certain non-binding understandings and certain binding commitments between _____, (Acquirer) and [list.

Letters of agreement are important before engaging into a business relationship. These are necessary to make sure that all the members of both parties are agreeing on the same things. Also, simple letters of agreement are helpful in outlining the respective responsibilities of everyone involved, which means that they can protect the legal rights of those affiliated by keeping everyone in line. Letters of agreement are often used when an unsecured creditor agrees to settle the debt for less than the amount owed. This is a voluntary agreement governed by contract law and is sometimes called a scheme of arrangement. When the debtor is insolvent, a deed of arrangement is used. The purpose of these letters is to prevent bankruptcy. If you need help with a letter of agreement, you can. NON-BINDING LETTER OF INTENT. The purpose of the Non-Binding Letter of Intent is to ensure that the party signing will receive early delivery of the Endurance pick-up truck when in full scale production. Initial deliveries are scheduled for the 2nd half of 2021. Reservation Agreement. 1. Reservation. By entering into this Reservation Agreement, you hereby confirm that you wish to reserve the. In these situations, the industry often uses a 'letter of intent' (LOI) as a bridging measure to allow work to proceed and to give the parties some legal protection. The LOI is then meant to be replaced by the formal contract. An LOI should never be taken lightly, even if it is meant to be only a temporary arrangement Letter of intent may be represented by one party or another party negotiated before execution or signature by both the parties. A simple letter of intent includes all the details about the parties involved in deal or contract. This type of letter also provide the purpose of contract or deal such that property purchase, business merger and so on

For better understanding, you can check out some letter intent examples online.In today's age, a professional letter of intent template available online that guides people on how to write a letter of intent. Whether you are handling legal matters of your organization or writing a letter of intent to a graduation school, all you need is to download it from online and fill the blanks as per. made by written agreement between the Parties. 6. Time of Completion The work shall be completed within six months from the date of signing the contract agreement. 7. Security Deposit Agency shall deposit within 15 days of receipt of Letter of Intent, a sum of Rs._____ being 10% of the financial proposal value towards Security Deposit i

Letter of Intent and Use Agreement For Cle Elum Community Garden To Community Garden Committee: This Letter serves as my Notice of Intent to lease space in the Community Garden for _____(year). Raised beds lease for $30 per year for the first bed, with each additional bed (if desired) leasing for $15 each. Additionally, I may be interested in helping with work parties during the gardening. Britain's Infinite Power said on Wednesday it had signed a letter of intent with Japan's Marubeni Corp <8002.T> and Germany's Framatome to provide uninterruptible power in nuclear energy facilities Letter of intent - Designing Buildings Wiki - Share your construction industry knowledge. A letter of intent is a document expressing an intention to enter into a contract at a future date but creates no contractual relationship until that future contract has been entered into. A letter of intent is not an 'agreement to agree' The supplier will provide products of the highest quality, with all applicable warranties. Target markets are identified. The Letter of Intent itself is an agreement in principle, not a legal contract, and is not legally binding except as it relates to the negotiations between the parties, such as confidentiality provisions. This template is generic, not country specific, and can be used. Amedica signs additional OEM letter of intent supply agreement: 5 things to know Amedica, a biomaterial company of orthopedic implants, signed an original equipment manufacturer letter of intent supply agreement with an orthopedic device design and manufacturing company

Delaware Riverkeeper Letter to DRBC Requesting

SALT LAKE CITY, July 23, 2015 (GLOBE NEWSWIRE) -- Amedica Corporation (Nasdaq:AMDA), a biomaterial company that has developed silicon nitride ceramics as a material platform to manufacture and commercialize orthopedic implants, is pleased to announce that it has signed an original equipment manufacturer (OEM) letter of intent supply agreement with a leading orthopedic device design and. A letter of intent (sometimes referred to as a letter of interest) outlines the intent of one party relative to another. These types of letters can be used in a variety of situations including business negotiations, to signal the intent to purchase real estate or by recipients of scholarships or college admissions to indicate the intent to accept a formal offer A Definitive Supply Agreement is from our outdoor flower has created interest in the market and has translated into SpeakEasy's first significant letter of intent for a processing and supply. Seller issues Contract with full banking. 5. Buyer and Seller sign and exchange contracts. 6. Seller provides Proof of Product. 7. Buyer's Bank opens Letter of Credit. 8. Shipment commences as per contract. We understand that any and all offer and/or contracts are subject to successful Seller verification of funds availability. We hereby give our written permission for the Seller to conduct a.

Letter Of Release Of Liability Template Examples | Letter

Heritage Cannabis Signs Letter of Intent with IntelGenx for Long-Term Cannabis Filmstrip Supply Agreement October 29, 2020 October 29, 2020 Stock Day Media 726 Views Hemp , heritage , HERTF 10/29/202 A Definitive Supply Agreement is expected to be completed on or about than April 2, 2021. Speakeasy Cannabis Club Ltd. Logo (CNW Group/Speakeasy Cannabis Club Ltd.) Founder, Marc Geen states, This LOI represents a significant shift in SpeakEasy ' s business operations. The years of building and growing to where the Company will have culminated in its ability to process and sell large volumes. The letter of intent for making a purchase is a legal document which gives the reader an idea of the purchase to be made. Such a letter is exhaustive in nature since it provides details of the agreement. Terms and conditions related to the purchase need to be mentioned in the letter, preferably through a bulleted list. Such a letter can be either binding or non-binding in nature. The common. March 30, 2020 - Halifax, Canada - Sona Nanotech Inc. (CSE: SONA), (OTC Pink: SNANF) (the Company) entered into service and supply agreements with a contract manufacturing organization (CMO) in Europe for the manufacture of its Covid-19 virus-detecting, rapid-response test. The Company also entered into a letter of intent agreement with an international distributor representing. Infineon and Huawei Sign Letter of Intent for Framework Purchase Agreement for Communication ICs Mar 19, 2009 | Business & Financial Press Neubiberg, Germany - March 19, 2009 - Infineon Technologies AG (FSE/NYSE: IFX) today announced that it has signed a letter of intent for framework purchase agreement amounting 68 million US-dollars with Huawei Technologies of China A Letter of Intent is not intended to bind either party ultimately to enter into any contract. 4 Further, by necessary implication, non-binding or conditional agreements/letters of intent remain subject to revocation at the instance of either party, or automatic cancellation upon non-fulfilment of the condition(s) on which their performance is contingent

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