preliminary agreement
Terms before finalization
A preliminary agreement is an initial understanding between parties that outlines the basic terms of a deal before a final contract is drafted.
It signals intent to proceed but typically isn't legally binding in all respects: The companies signed a preliminary agreement to merge, pending due diligence.
Also called a letter of intent or memorandum of understanding.
- letter of intentPreliminary agreement expressing commitment
- bargainingNegotiating mutually acceptable terms
- handshake dealUnwritten mutual commitment
- memorandum of understandingPreliminary accord document
- mutual understandingShared agreement between parties
term sheet · counteroffer · protocol · contract · accord · compromise · stipulation · settlement · consensus-building · covenant · concession · treaty · addendum · mediation · dispute resolution · legal notice · facilitation · confidentiality clause
- ceasefirestruce, armistice, ceasefire line, ceasefire violation, Christmas truce
- due diligencedue diligence, legal review, vetting, legal analysis, data room
preliminary, agreement, agree, disagree, agreeable, disagreeable, agreeably, agreed, agreeing