What is a Term sheet?
A term sheet is a non-binding agreement setting forth the basic terms and conditions under which an investment shall be made. It is a template to develop more detailed legal documents. The parties involved reach an agreement on the details laid out in term sheet, a binding agreement or contract conforms to term sheet.
Advantages of term sheet
Eliminates expenses: it helps in reducing the unnecessary expenditure on the company's resources.
Time effective: It saves a lot of time and specifies all the basics of the contract.
- A well efficient lawyer from our team shall contact you, and explain you the total process, and will understand the need of filing a legal notice by you.
- Once the objectives of the same are clear, the lawyer shall draft a sample legal notice accordingly.
- The draft legal notice shall be sent to you, for your review.
- Once you approve it, it shall be served to the other party.
- The whole process takes around 3-4 working days.