What is Term sheet?
A term sheet is a critical document, particularly for an Indian businessman. Months into negotiation and contract drafting, you may find out that there is no agreement on the basics of the contract.
A term sheet solves this problem by putting into place a framework for the final contract. The term sheet, therefore, reflects the broad consensus of the parties on the material terms and conditions, such as price, quantity, valuation, due diligence and pre-emption.
A term sheet reflects the broad consensus of two parties on material terms and conditions of a deal.
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