In legal practice, the term “agreement of intent” is often found. What does it mean and what might such an agreement lead to? This must be dealt with in detail.
Preliminary Obligations
There are cases when legal entities or individuals are not able at the moment to conclude a specific contract. There may be a variety of reasons. Wishing not to miss such an opportunity in the future, they draw up an agreement of intent, which stipulates all the details of the upcoming cooperation. This is done with the consent of both parties and is issued in the form of a separate document.
As you know, in civil law there is no such normative act as an agreement of intent. It is not regulated by any provision or regulation. At its core, this paper resembles a preliminary contract. It is described in detail in article 429 of the Civil Code of Russia. In this case, everything looks more specific. The main thing is that such a document be compiled in accordance with all the rules. That is, it is necessary to clearly indicate the following points: the subject and other basic provisions of future cooperation. But an agreement of intent will be equivalent to such an agreement only when it is possible to comply with all necessary conditions.
Type of document
In order to have full confidence in the planned plans, it is necessary to think through everything in advance. Any opportunity must be foreseen. And for this you should know what the agreement of intentions of cooperation should look like. A sample of this document cannot be found in any legal directory. But you can compose it yourself if you know some details.
There may be several options. For example, the two companies decided to cooperate and want to officially record such a desire. To do this, they need to draw up an agreement of intent on cooperation. A sample document will resemble a regular contract. It includes the same sections. First you need to determine the subject of such an agreement, which will be the purpose of this agreement. In addition, the responsibilities of each of the parties involved and the rights that they have must be clearly defined. The document must contain the calculation procedure and the period during which both companies will be required to comply with all agreed conditions.
Mutual Interest Option
There are cases when one enterprise, for example, wants to carry out some own project, but is not able to do it on its own. To solve such a problem, he may need a partner, that is, an organization that can figure out a problem and help find ways to solve it. In such a situation, an agreement of intent can be concluded. A sample document is presented below.
It must first indicate the ultimate goal, for the achievement of which firms agree to take certain steps. Then you need to clearly describe what exactly both companies will do, each of which is interested in a positive end result. In addition, the term of validity of such an agreement must be indicated, after which the parties will have to meet, exchange data and decide on the possibility of implementing the planned project. The result may turn out to be negative, therefore it is better to determine in one of the clauses the conditions for termination of such cooperation, according to which neither side will have any other property, legal or other claims and obligations.
Distant prospect
There are times when the parties see a prospect in joint activities, but are not ready at the moment to arrange their relations accordingly. In such a situation, they should not rush, but draw up an agreement of intent to conclude an agreement.
This will keep hope for future cooperation and solve two main problems:
- Record certain successes achieved as a result of negotiations. Both parties will have time to slowly consider all the circumstances of the conclusion of a future transaction.
- A similar document will have a certain psychological effect on company executives. Each for his part remains confident that after a certain period of time the desired contract will nevertheless be concluded. True, for this the agreement itself must be drawn up taking into account all the necessary requirements.
In addition to the subject of the contract and the obligations of the parties, it is necessary to provide for the presence of a certain paragraph in the text. It will state that the parties undertake, upon the expiration of the period established by the agreement, to conclude this agreement, which has full legal force. Then none of the partners will be able to refuse and refer to Article 421 of the Civil Code of the Russian Federation, which refers to coercion to sign any agreements.
