Heads of Terms Agreement

If you’re a commercial landlord, tenant, buyer or seller, ask our commercial property solicitors to review a Heads of Terms agreement. We’ll analyse the details and offer expert legal advice. We can negotiate on your behalf to secure more favourable terms if needed. 

For a free quote, call us on 0191 567 7244 and we’ll gladly help you.

You can also email info@cooklaw.co.uk or complete our free online enquiry form and we will be in touch with you shortly.

What are Heads of Terms?

Heads of Terms is a document setting out the main terms of a commercial transaction that have been agreed upon in principle.

Heads of Terms are typically prepared in advance of a commercial lease. It outlines the general agreement between the landlord and the prospective tenant. If both sides are happy to proceed, the agreement would then be finalised in the lease.

Heads of Terms can also be used during a commercial property sale. The document sets out the details of the sale, ensuring both the seller and the buyer are on the same page. Like a lease, this agreement would then be solidified in the contract.

Why use Heads of Terms?

Heads of Terms are generally not legally binding unless they are drafted in a particular way. Instead, the purpose is to set out the basic terms. That way, both parties understand each other’s intentions before committing to the transaction. Heads of terms are also known as ‘letters of intent’ or ‘memoranda of understanding’, which better describe their function.

If either party is not satisfied with the Heads of Terms, they can negotiate to secure more favourable conditions or, they can withdraw from the transaction before wasting any more time or money on a transaction that does not meet their interests.

How can our commercial property solicitors help?

Our commercial property solicitors can draft and review a Heads of Term agreement. We can also negotiate on your behalf.

If you have been presented with a Heads of Term agreement, contact our commercial property solicitors. We’ll read through the document and explain everything in plain English. We’ll provide independent legal advice regarding the provisions set out, highlighting any areas of concern. This is an important exercise, as you want to ensure the terms are suitable for you before progressing any further.​

If you want to negotiate the terms, we can do this for you. Our motivation is to help you achieve a positive outcome. This means meeting your commercial objectives while protecting your financial position. Our solicitors can liaise with the other party to secure more favourable terms. This is vital, as the Heads of Terms is a skeleton agreement and will be used to draft the commercial lease or contract of sale.

Fixed-fee commercial property solicitors

Our commercial property solicitors act on a fixed-fee basis. We start with a free initial consultation, following which we will provide a fixed-fee quote with no hidden charges.

We have extensive experience reviewing and negotiating Heads of Terms and work closely with commercial clients across England and Wales. Whether you are a commercial landlord, tenant, buyer or seller, we can apply our legal expertise to protect your best interests.

Get a free quote

Get a free, no-obligation quote from our commercial conveyancing solicitors. Call us on 0191 567 7244, and we’ll be happy to help.

You can also email info@cooklaw.co.uk or complete our free online enquiry form and we will be in touch with you shortly.