Selling a Business · Document Creator
Put your deal on paper before you shake hands on it.
Eleven guided steps to a South African term sheet for buying or selling a business — the price, how it is paid, the conditions, exclusivity, warranties and the restraint. Articles 2 to 10 do not bind; Article 11 does. PDF and Word, emailed to you.
15 minutes · auto-savedShare sale or business salePDF + Word output
Step 1 of 12— About you and the deal0%
The deal
Parties
Price
Conditions
Protections
Finish
Step 1 of 12 — About you and the deal
About you and the deal
Who you are, what is being sold, and whether anything must happen before handover.
A term sheet (also called heads of terms or a letter of intent) records the commercial deal before the sale agreement is drafted. Most of it does not bind; confidentiality, exclusivity and costs do. Answer in plain terms — anything you are not sure of can stay “to be agreed”.
Not sure? Read share sale vs asset sale.
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This tool generates a starting-point document only and does not constitute legal advice. Always have your term sheet reviewed by a qualified attorney before signing. Get a fixed-fee attorney review.
FAQ
Frequently asked questions
- Only the parts the parties intend to bind. In this term sheet the commercial terms (Articles 2 to 10) do not bind; confidentiality, exclusivity, access, costs, announcements and notices (Article 11) do. South African courts look at substance, so the split is stated expressly.
- You can sign it without one, but the binding provisions and the "subject to contract" wording decide whether you have accidentally agreed a deal. A fixed-fee review before you send it is the safer route.
- Yes. Choose what is being sold and the wizard adjusts the price mechanism, the statutory points (section 197, section 34, VAT zero-rating, section 112) and the conditions.