Cashflow is at the centre of any successful business. Invoicing early and chasing payment should help keep cashflow moving however sometimes your polite reminders just aren’t enough and the money you are owed isn’t forthcoming. Unpaid debts...
Heads of terms should be set out by the parties looking to enter into a deal or transaction. Heads of terms are also known as a letters of intent or memoranda of understanding.
Although this document is not legally binding, it records the future intentions of parties wishing to take part in a transaction but does not enforce obligations on them.
Heads of terms are set out to allow both parties to see what they can expect the basic terms of a contract to be before the finer details are eventually negotiated.
Parties usually make their general intentions known at the outset via heads of terms to avoid the cost of legal fees pertaining to discussions on major points of the transaction, leaving each party to focus on the finer points of the details separately.