Glossary entry (derived from question below)
English term or phrase:
HOT (head of terms)
Romanian translation:
Termenii principali agreati preliminar unui contract (precontract)
Added to glossary by
Lavinia Pirlog
Aug 14, 2009 19:10
15 yrs ago
10 viewers *
English term
Romania
Romanian Spanish English French Trados
Native in: Romanian
Works in: Spanish to Romanian, English to Romanian, Romanian to Spanish, and 3 more.
HOT
English to Romanian
Bus/Financial
Law: Contract(s)
Financing risk:
Adequate funding not available.
Mitigation measure:
Letting agents to achieve targets on HOT's for retail centre tenants
Adequate funding not available.
Mitigation measure:
Letting agents to achieve targets on HOT's for retail centre tenants
Proposed translations
(Romanian)
| 5 +1 | Termenii principali agreati preliminar unui contract (precontract) |
Stefangelo DPSI
|
| 3 | Hands On Technology |
Antonina Erena
|
References
| HOT:Head of terms |
cezara lucas
|
Proposed translations
+1
56 mins
Stefangelo DPSI
United Kingdom
United Kingdom
Native in English
&
Romanian
Specializes in field
United Kingdom
translation, all of it and nothing but.
Native in: English 
, Romanian
Works in: English to Romanian, Romanian to English
Related KudoZ points
:
19
English term (edited):
HOT (Head of Terms)
Selected
Termenii principali agreati preliminar unui contract (precontract)
HEAD OF TERMS
Once negotiations with the purchaser have reached the stage where you have informally shaken hands on a deal, it is worth setting out the outline of the deal in writing. The purpose of this is to make sure the parties do not start spending a lot of time, effort and money going through the sales process only to find that some deal-breaking issue had not been properly agreed before they started. It is also important, however, to remember that the purpose of the heads of terms is only to outline the deal: there will inevitably be many details which need to be ironed out and negotiated as it progresses and you need to avoid getting too deeply involved in the nitty-gritty and holding up the transaction over matters which can be resolved at a later date.
The heads of terms will be expressed to be non-binding. They are not the final contract between the parties, but merely a starting point for the preparation of full documentation. The purchaser will, however, want to include at least one legally binding term, known as the “lock out”.
The purchaser is going to incur considerable costs and spend a lot of time investigating the company and negotiating the sale terms. He will want to avoid the risk of being “gazumped” by another purchaser, and will get you to sign a binding undertaking not to enter into talks or negotiations with any other prospective purchaser for a guaranteed period to allow him to complete his investigations and the legal process.
Once negotiations with the purchaser have reached the stage where you have informally shaken hands on a deal, it is worth setting out the outline of the deal in writing. The purpose of this is to make sure the parties do not start spending a lot of time, effort and money going through the sales process only to find that some deal-breaking issue had not been properly agreed before they started. It is also important, however, to remember that the purpose of the heads of terms is only to outline the deal: there will inevitably be many details which need to be ironed out and negotiated as it progresses and you need to avoid getting too deeply involved in the nitty-gritty and holding up the transaction over matters which can be resolved at a later date.
The heads of terms will be expressed to be non-binding. They are not the final contract between the parties, but merely a starting point for the preparation of full documentation. The purchaser will, however, want to include at least one legally binding term, known as the “lock out”.
The purchaser is going to incur considerable costs and spend a lot of time investigating the company and negotiating the sale terms. He will want to avoid the risk of being “gazumped” by another purchaser, and will get you to sign a binding undertaking not to enter into talks or negotiations with any other prospective purchaser for a guaranteed period to allow him to complete his investigations and the legal process.
Peer comment(s):
| neutral |
cezara lucas
: era deja postat ca referinta
10 hrs
|
|
ati postat doar referinta in engleza, dar fara nici o traducere in romana din pacate!
|
|
| agree |
RODICA CIOBANU
1 day 14 hrs
|
|
multumesc
|
4 KudoZ points awarded for this answer.
10 mins
Antonina Erena
Romania
Romania
Native in Romanian
Romania
copia verborum
Native in: Romanian
Works in: Polish to Romanian, Polish to English, Romanian
Related KudoZ points
:
8
Hands On Technology
O sugestie, nu stiu daca este cea corecta.
Aveti un context mai larg?
Aveti un context mai larg?
Reference comments
15 mins
cezara lucas
Romania
Romania
Native in Romanian
Romania
For you, I am the proficiency!
Native in: Romanian 
Works in: English to Romanian, Romanian to English, French to English, and 1 more.
Reference:
HOT:Head of terms
HOT:Head of terms
Pre-contracts (Letter of Intents, Head of terms, and deposit of “arras”)
It is not common to draft letters of intent or HOTs in Spain for the purchase of dwellings or small operations. In the majority of the transactions, the parties would execute a “Arras” Agreement, or a Private sale and Purchase Agreement.
http://www.spanishpropertysolicitor.com/precontract.html
Heads of terms: acquisitions
Resource type: Practice note
Status: Maintained
Jurisdiction: United Kingdom
Heads of terms (also known as letters of intent, memoranda of understanding or heads of agreement) set out the terms of a commercial transaction agreed in principle between the parties. This note sets out the main considerations arising in heads of terms used in private company acquisitions (shares or assets).
--------------------------------------------------
Note added at 17 ore (2009-08-15 12:52:39 GMT)
--------------------------------------------------
Antecontract (de principiu, fara obligatia ferma a partilor)
http://www.wix.wandsworth.sch.uk/documents/Headsoftermsfrenc...
http://www.borneolinnells.co.uk/Services_Available/Buying_an...
A heads of terms agreement is a written document drafted at the outset of a proposed commercial transaction with the aim of setting down the principal terms agreed between the parties. It operates as a very useful means of focusing the mind of each party and provides the framework for the main contract.
Generally a heads of terms agreement is not intended to be legally binding since it is only the initial expression of intention between the parties and will be subject to the detailed terms of the main contract. However it will often contain confidentiality provisions and an exclusivity clause whereby the parties agree a time period during which they will not negotiate with any third party. It is usual for both these points to be legally binding.
Pre-contracts (Letter of Intents, Head of terms, and deposit of “arras”)
It is not common to draft letters of intent or HOTs in Spain for the purchase of dwellings or small operations. In the majority of the transactions, the parties would execute a “Arras” Agreement, or a Private sale and Purchase Agreement.
http://www.spanishpropertysolicitor.com/precontract.html
Heads of terms: acquisitions
Resource type: Practice note
Status: Maintained
Jurisdiction: United Kingdom
Heads of terms (also known as letters of intent, memoranda of understanding or heads of agreement) set out the terms of a commercial transaction agreed in principle between the parties. This note sets out the main considerations arising in heads of terms used in private company acquisitions (shares or assets).
--------------------------------------------------
Note added at 17 ore (2009-08-15 12:52:39 GMT)
--------------------------------------------------
Antecontract (de principiu, fara obligatia ferma a partilor)
http://www.wix.wandsworth.sch.uk/documents/Headsoftermsfrenc...
http://www.borneolinnells.co.uk/Services_Available/Buying_an...
A heads of terms agreement is a written document drafted at the outset of a proposed commercial transaction with the aim of setting down the principal terms agreed between the parties. It operates as a very useful means of focusing the mind of each party and provides the framework for the main contract.
Generally a heads of terms agreement is not intended to be legally binding since it is only the initial expression of intention between the parties and will be subject to the detailed terms of the main contract. However it will often contain confidentiality provisions and an exclusivity clause whereby the parties agree a time period during which they will not negotiate with any third party. It is usual for both these points to be legally binding.
Peer comments on this reference comment:
| agree |
RODICA CIOBANU
1 day 14 hrs
|
| agree |
George C.
2 days 17 hrs
|
Discussion
Poate are sens asa.
Daca este vorba de Head Of Terms, care este sensul intregii propozitii?