What is ‘Heads Of Agreement’
A non-binding document outlining the main issues relevant to a tentative partnership agreement. Heads of agreement represents the first step on the path to a full legally binding agreement or contract, and serves as a guideline for the roles and responsibilities of the parties involved in a potential partnership before any binding documents are drawn up.
Explaining ‘Heads Of Agreement’
As a Heads of Agreement document is only meant to serve as a guideline, it may not be comprehensive enough to cover all the bases relevant to a binding contract. While the parties involved may find broad agreement on the topics covered in a Heads of Agreement document, the devil may be in the details. In other words, the minutiae that must perforce be spelt out in a binding partnership agreement or contract may not be to the liking of all the parties involved in the partnership, which could derail their efforts to work together.
Further Reading
- Asymmetric bargaining and development trade-offs in the CARIFORUM-European Union Economic Partnership Agreement – www.tandfonline.com [PDF]
- Whose Songs in Their Heads? – www.oxfordhandbooks.com [PDF]
- Over the heads of local people: consultation, consent, and recompense in large-scale land deals for biofuels projects in Africa – www.tandfonline.com [PDF]
- G7 COAL SCORECARD–FIFTH EDITION COAL FINANCE HEADS FOR THE EXIT – www.jstor.org [PDF]
- Are Economists in Over Their Heads? – www.oxfordhandbooks.com [PDF]
- Heads of International Organizations – www.oxfordhandbooks.com [PDF]
- Enforceability of Heads of Agreement, Intention to Be Bound and Omission of Essential Terms-Electricity Corporation of New Zealand Limited v. Fletcher Challenge … – heinonline.org [PDF]
- Russian Law Heads for EU Compatibility – heinonline.org [PDF]
