This legal template refers to a Basic Binding Side Letter governed by UK law. A side letter in legal terms is a document that serves as an addition or supplement to an existing agreement or contract. It typically includes provisions or agreements that are not explicitly mentioned in the primary contract but have been agreed upon by both parties and are intended to be legally binding.
This template specifically pertains to side letters governed by UK law, which means that any disputes or legal matters arising from the side letter would fall under the jurisdiction and interpretation of UK law.
The "Basic" aspect in the template suggests that this document is intended for simpler agreements or contracts that require additional terms or amendments, rather than complex or intricate matters.
The binding nature of this side letter template indicates that the provisions or agreements outlined within it are enforceable and legally binding, similar to the primary contract to which it is attached. It would be advisable for parties to review and seek legal counsel before signing and implementing such a side letter to ensure clarity, compliance, and protection of their respective rights and obligations.
Make sure that the document is actually legally binding in your jurisdiction;
Check that the terms of the side letter are clear and unambiguous;
Ensure that you understand and agree with all the terms of the side letter;
Make sure that the side letter does not conflict with any other agreements you have in place
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