In this article, Commercial Property Specialist Charlie Bennett discusses how Heads of Terms work, whether they’re legally binding and what to look out for when negotiating.
We think you may make an early decision on this. We think you may decide to:
Make an offer
The strength of this supplier’s position is such that you may not be able to afford to take a technical stance on the validity of their retention of title claim. Chances are that if you don’t keep this supplier sweet they may discontinue supplies…
But, do think about the rights the company might have under s233-233B of the Insolvency Act 1986. Supplier's rights to terminate contracts on insolvency are limited by those provisions.
