The online legal document provider, RealDealDocs.com has released a number of Letters of Intent for the top companies in America including many Fortune 500 companies. These are the actual legal documents drafted by the nation’s top law firms.

Pay88 drafted a letter of intent in October of 2008 in order to facilitate the consolidation and sale of the online payment system company to Chongqing Aomei Advertising Company. The Enercorp Inc. letter of intent also drafted in October set forth the terms of American Plastics Processing Products Inc. investing in Enercorp Inc. Both of these Letters of Intent are available in their entirety on the RealDealDocs.com website.

A Letter of Intent is a legal document outlining an agreement between two or more parties before the agreement is finalized.

RealDealDocs.com is the online legal document resource preferred by lawyers, deal professionals and entrepreneurs. The powerful search functionality is easy to use which is just one of the reasons 40 of the top 200 law firms in the world use it.

The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike.

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com, the first online practice guide for the national litigator and the national litigation practice.

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Letter of Intent from Pharmaceutical Insider Released Online

A Letter of Intent between China Health Holding, Inc and Bejing Boran Pharmaceutical Company was made available online today by online legal document provider RealDealDocs.com. A Letter of Intent is a legal document outlining an agreement between two or more parties before the agreement is finalized. A Letter of Intent resembles a written contract, but generally is not binding upon the parties.

The purpose of a Letter of Intent may be to clarify the key points of a complex transaction for the convenience of the parties, to declare officially that the parties are currently negotiating as in a merger or joint venture proposal, or to provide safeguards in case a deal collapses during negotiation.

In 2006 China Health Holding, Inc used a Letter of Intent when they sought to acquire fifty-one percent of the BeiJing Boran Pharmaceutical Company. And in 2005, Battle Mountain Gold Exploration Corp.  proposed in a Letter of Intent, to acquire the balance of Pediment Gold LLC in order to continue to explore the Nevada Great Basin. Both of these Letters of Intent can be found on the RealDealDocs.com website, in addition to millions of other legal documents drafted by top law firms.

RealDealDocs is the leading online legal document resource preferred by lawyers, deal professionals and entrepreneurs. The powerful search functionality is easy to use which is just one of the reasons 40 of the top 200 law firms in the world use it.

The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike.

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

To view the Letter of Intent between China Health Holding, Inc and Bejing Boran Pharmaceutical Company click here

To View other Letters of Intent, check out Realdealdocs.com.

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A letter of intent or “LOI” is a document outlining an agreement between two or more parties before the agreement is finalized. Letter of Intents resemble written contracts, but generally are not binding upon the parties. The purpose of an LOI may be to clarify the key points of a complex transaction for the convenience of the parties, to declare officially that the parties are currently negotiating as in a merger or joint venture proposal, or to provide safeguards in case a deal collapses during negotiation.

Non-binding letters of intent for the purchase of a business or business assets should be drafted carefully and may include most or all of the following elements:

• Total compensation offered including breakdown (size of security deposit, down payment, seller-financed debt, bank debt).
• Warranties of clear and marketable title.
• Detailed list of all liabilities and assets to be purchased.
• Assurances of the validity and assumability of contracts (if applicable).
• Tax liability limitations.
• Operating condition of all equipment and machinery at time of purchase.
• Stipulations allowing buyer to adjust the purchase price in the event that: 1) undisclosed liabilities come due after settlement, and 2) actual inventory purchased does not match amount specified in sale agreement.
• Provisions that the business passes any and all necessary inspections.
• Provisions that final sale is contingent on verification of financial statements, license and lease transfers.
• Provisions that final sale is contingent on obtaining financing for purchase.
• Restrictions on business operations until final settlement.
• Non-competition and advisory clauses (these are sometimes arranged in a separate document).
• Allocation of purchase price.
• Date for settlement (may also include “drop dead” date at which both sides agree to discontinue negotiations).
• Business experts say, however, that most letters of intent are primarily concerned with delineating only the major terms of the transaction. Indeed, a small business owner who ends up negotiating numerous minor details in a letter of intent may as well skip the step entirely and proceed directly to a binding purchase and sale agreement.

Major terms that should be included in a letter of intent, however, are as follows: Total price to be paid, including down payment and installment payments, description of assets or stock to be sold, tax allocation of the price among fixed assets, goodwill, non-compete covenants, and consulting fees, and target dates for contract signing and closing. Of these components, price and payment terms are easily the most important elements of the letter.

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