It usually includes the nature of the future contract (type of agreement), the description of the transactions to be carried out (description of the transaction), the sale price (sale price), the currency in which it will make the payment and the method of payment (payment method). It is still a non-binding document that outlines the Treaty. Thank you for coming to us with your comment. I agree with you that the Memorandum of Understanding and the Memorandum of Understanding are very similar. Indeed, we believe that the use of one or the other is the choice of the editor-in-chief and corresponds only to style preferences or custom. So far, we haven`t found a big difference in content between so-called documents. We also agree that the “declaration of intent” can be a valid translation. Thank you for the show. Another document that could be added to the list would be the “Memorandum of Understanding”, although I know that it is consistent with the Memorandum of Understanding. With regard to translation, I wondered whether the “declaration of intent” could be useful, since it seems that “memorandum” in Spanish has other meanings that do not correspond to this case. The HOTS is also called on other occasions, guide of the agreement.
The fact is that it is difficult to provide a single translation for this term. We have seen this translated as “essential clauses”, “terms of agreement”, “declarations of intent”, etc. Sometimes we would translate them as a letter of guarantee, because the context prescribed that translation. We have also seen it translated as a “compatibility letter”. However, it is important not to confuse these documents with the Letter Agreement, which is not a document suitable for the pre-contractual phase, but a contract in itself, but with a simpler and generally shorter form than traditional contracts. Congratulations! Don`t forget to confirm the email you will receive to get the document as a PDF. Of course, it is not mandatory to write a HOTS before signing a contract, but when it is done, it is considered a project or a draft main contract (it is recognized as a draft main contract). . .