Term Sheet
/ˈtɜːrm ʃiːt/
Definitions
- (n.) A non-binding document outlining the basic terms and conditions under which parties intend to enter into a formal agreement.
The investors signed the term sheet before proceeding with due diligence.
Forms
- term sheet
- term sheets
Related terms
See also
Commentary
Term sheets are typically preliminary and not legally enforceable, serving to facilitate negotiation rather than create binding obligations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.