How Do I Prepare My Business for Sale?
You have built a successful business but the time has come to sell and move on to a new venture. You know the operating side of your business well, but you may not be as confident when you need to…
I Am a National Tenant. What Should a Heads of Agreement Include?
A heads of agreement (HOA) is the document which summarises the key commercial terms of a leasing transaction. It is usually the first document you will sign before receiving the lease. As a national tenant, there are two key considerations…
I Am Selling My Business and the Buyer Has Pulled Out of the Sale. What Can I Do?
At the date of this article, there are uncertain times ahead for all businesses. The COVID-19 pandemic is a once in a 100-year health crisis that is impacting the Australian and world-wide economy. If you are selling a business and…
Selling Your Franchise Network Part 1: The Early Stages
If you have grown your business to the point where you are thinking about selling your franchise network, it can be a very exciting time. All that hard effort is – hopefully – about to pay off. The question is:…
What Should You Include in a Heads of Agreement for a Construction Project?
A heads of agreement is the agreement that you enter into before the final contract. It is used widely within the construction industry for large projects between contractors and principals. If you are a contractor, it is a good idea…
I’m Selling My Business. Do I Need a Heads of Agreement?
When selling a business, it is essential to document the key commercial terms of the agreement before a sale of business agreement (SOBA) is prepared. Documenting the critical commercial terms will allow for a smoother and more efficient sale process.…
Can I Include an Agreement to Agree in My Contract?
An agreement to agree occurs where parties decide that certain commercial arrangements should be decided at a later date. For example, this may include the amount of rent paid in a commercial lease or the number of goods a distributor…
Is a Memorandum of Understanding Legally Binding?
A memorandum of understanding (MOU), also referred to as a letter of intent, heads of agreement or term sheet, can be an extremely useful commercial tool. Parties use MOUs to quickly and inexpensively set out the commercial terms of a…
What is a Letter of Offer and is it Binding?
When looking for premises to lease for your business, you and the landlord may sign a preliminary document called a letter of offer. It is also referred to as a heads of agreement and covers the key commercial terms of the lease.…
Tips for Entering Into a Heads of Agreement
A heads of agreement is the agreement you enter into before the final contract. It is important to take the time to correctly review your heads of agreement before you enter into your contract as it sets out the key…
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