Letters of intent may be advanced in the world of commercial real estate. In some specific domestic markets (for example in principal to principal deals between upstream Petroleum traders and producers in the same country, or certain Joint venture projects) they may be found. But there is no underlying and supported standard international application for the Letter of Intent.
7.Buyer, and/or his agents, shall have the right to review all books and records used in the preparation of the financial statements and tax returns for the last three years (may use an outside consulting or audit firm to validate the books and records) 8.Owner shall stay on for a maximum of XX months at a compensation rate agreeable to both parties (if necessary and required). 9.Buyer shall pay all sales tax on fixtures and equipment, if any. 10.Seller shall execute a X year non_compete agreement.