A Letter Of Intent To Purchase Software is commonly used in commercial transactions where a potential buyer wishes to formally express their serious interest in purchasing software while maintaining flexibility before final commitment. This document is particularly relevant in the Austrian business context, where it must comply with local commercial law, EU software licensing regulations, and data protection requirements. It typically precedes a final purchase agreement and includes essential elements such as the software description, approximate pricing, timeline for due diligence, and any exclusivity periods. While mostly non-binding, it often contains binding provisions regarding confidentiality and exclusivity. The document helps structure negotiations and sets clear expectations for both parties while providing a framework for the due diligence process.
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1. Date and Parties: Names and addresses of both parties - the potential purchaser and the software vendor
2. Expression of Intent: Clear statement of intention to purchase the specified software subject to conditions
3. Software Description: Detailed description of the software product(s) under consideration
4. Proposed Terms: Key commercial terms including approximate price range, payment terms, and delivery timeline
5. Due Diligence: Overview of the evaluation process and requirements
6. Timeline: Expected timeline for negotiation, due diligence, and potential closing
7. Non-Binding Nature: Statement clarifying the non-binding nature of the LOI except for specific provisions
8. Confidentiality: Binding confidentiality obligations regarding shared information
9. Exclusivity: Any exclusive negotiation period if applicable
10. Closing: Signature blocks and formal closing of the letter
1. Deposit Terms: Include when a good faith deposit is required as part of the LOI
2. Break Fee: Include when parties agree to a break fee if negotiations terminate under specific circumstances
3. Governing Law: Include when parties want to specify the governing law for the binding provisions
4. Cost Allocation: Include when parties need to specify who bears the costs of due diligence and negotiations
5. Existing Agreements: Include when there are existing agreements between parties that need to be referenced or terminated
1. Software Specifications: Technical specifications and features of the software being considered
2. Pricing Structure: Detailed breakdown of expected pricing components and payment terms
3. Due Diligence Checklist: List of required documents and information for the due diligence process
4. Timeline Schedule: Detailed timeline with specific milestones and deadlines
Authors
Relevant legal definitions
Clauses
Relevant Industries
Information Technology
Software Development
Financial Services
Healthcare
Manufacturing
Retail
Professional Services
Education
Government
Telecommunications
Insurance
Banking
E-commerce
Consulting
Relevant Teams
Legal
Information Technology
Procurement
Finance
Operations
Compliance
Digital Transformation
Technology Strategy
Software Asset Management
Contract Management
Risk Management
Relevant Roles
Chief Information Officer
IT Director
Procurement Manager
Legal Counsel
Technology Manager
Software Procurement Specialist
Contract Manager
Chief Technology Officer
Digital Transformation Manager
IT Procurement Officer
Commercial Director
Head of IT
Chief Financial Officer
Software License Manager
IT Operations Manager
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