S J GLOKAL
S J Glokal is the experienced arm that engages with clients in an advisory capacity, makes recommendations, manages relationships, undertakes Due Diligence prior to arranging the agreements and drawing up the documentation involved in the process to be delivered.
In all cases there is a set process and documentation to follow, which is fully shared and transparent with the client.
- Non-disclosure and Non-circumvention agreement
- Letter of Interest
- Memorandum of Understanding
The Non-disclosure and Non-circumvention agreement is legally binding and will be signed at the outset, covering both Parties against willful disclosure and circumvention.
Stage two in the process is the Letter of Interest, which will outline the key terms and conditions agreed but is not legally binding. Changes to this can still take place in the next stages and the process can still be cancelled by either Party.
The Memorandum of Understanding is not legally binding except the confidentiality clauses and this expands on the Letter of Interest and is sometimes referred to as the Heads of Terms. It is also, in effect, a draft version of the final agreement.
The Agreement is naturally legally binding and will outline all of the points in the Memorandum of Understanding and includes all of the agreement terms, obligations, warranties and timescales.
Whilst the paperwork above is being drawn up and reviewed by both Parties, S J Glokal will also undertake Due Diligence on the client and complete and comply with “Know Your Customer” and Anti Money Laundering processes and procedures.
Only once these have been completed and satisfied, can the final agreement will be executed.