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The Formal Letter of Intent is a crucial preliminary document in Belgian business transactions, used when parties wish to formally express their serious intention to enter into a definitive agreement while setting out the main terms and conditions of their proposed arrangement. It serves as a roadmap for subsequent negotiations and typically includes both binding and non-binding provisions, with certain elements such as confidentiality and exclusivity often being legally enforceable. Under Belgian law, these letters must be drafted with careful consideration of pre-contractual liability principles (culpa in contrahendo) and the obligation to negotiate in good faith. The document is particularly important in complex transactions where parties need to demonstrate commitment while still maintaining flexibility for detailed negotiations. It helps establish clear expectations, timelines, and responsibilities while protecting both parties' interests during the negotiation phase.

1. Letterhead and Date: Formal business letter header including sender's details and date

2. Recipient Details: Full name, title, and address of the recipient

3. Subject Line: Clear indication of the letter's purpose and any reference numbers

4. Opening Statement: Formal introduction and identification of the parties involved

5. Expression of Intent: Clear statement of the primary intention and proposed transaction or relationship

6. Key Terms: Overview of the main commercial terms being proposed

7. Timeline: Proposed schedule for negotiations and completion of the final agreement

8. Confidentiality: Statement regarding the confidential nature of discussions and information exchange

9. Non-Binding Nature: Clear statement about which provisions are binding and non-binding

10. Closing and Signatures: Formal closing, signature blocks for all parties