Importance of a Term Sheet
A term sheet is a crucial report, specifically for an Indian entrepreneur. For instance, when a businessman has been negotiating and drafting an agreement for a long time now, the chances of finding the fundamentals of the contract not agreed upon is much high. However, in scenarios such as the above, a term sheet fixes the conflict by stating the core groundwork for the final commitment. The term sheet thereby helps emulate the expansive agreement of the consenting groups on the tangible conditions, such as cost, portions, appraisal, alertness and pre-emption.
Benefits of a Term Sheet
Prevent Unwanted Expenses: A term sheet is commonly used to arbitrate the discrepancies on the essential facets of any trade contract before outlining the actual agreement, thereby avoiding any unwanted expenses from a company’s reserves.
Time-Saving: A term sheet is drafted to put a plan in place for the consenting parties involved instead of drafting a contract that is being refused by both. However, the details of the clauses won’t be present, but rather contain the fundamentals of how they would be reached upon.
Term Sheet Process
3 Business Days: Upon contact, your request to file for a term sheet will be received and our representative will be in touch with you to take your request forward. If we need more information from your end, we will call you as and when required. After we receive all your details, our in-house lawyers and legal experts, will create your term sheet and send it across for your view within 2- 4 business days.
2 Business Days: Your original price includes two rounds of iterations. Therefore, if you need any changes done to the term sheet, our lawyers will do the needful and send it across to you for your view once again.
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