Heads of Agreement — Lock In the Deal Before the Lawyers Draft the Contract.
Lock in deal terms before the lawyers draft the long-form contract. Binding vs non-binding, clearly marked. $49.
When You Need a Heads of Agreement
- Pre-contract — locking in deal terms before the SPA, JV agreement or asset purchase is drafted
- Joint venture or partnership negotiations between businesses
- Investment round or convertible note discussions
- Major commercial deal where both sides need to commit on principle first
- Asset or share purchase where due diligence is about to start
- Distribution, licensing, or franchise discussions before the long-form contract
- You approve it before it is sent
- 2 free amendments included
- Ready in about 5 minutes
- All Australian states and territories
- Stripe secured · 256-bit encrypted
How This Service Works
Everything you need to know before you start.
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Contact SupportFrom Your Answers to a Signed Agreement in 4 Steps
Describe the Deal
Tell us the parties, the deal type (JV, sale, investment), and the key commercial terms. Plain English.
Mark Binding vs Non-Binding
Confidentiality, exclusivity and costs are drafted as binding; the deal terms are intent-only until the long-form contract.
Our Programmatic Algorithms Draft the Term Sheet
Our Legal Oracle prepares a structured heads of agreement reflecting your deal points and intent.
Both Parties Sign
Once you approve it, we email it to the other party; no email address for them? You download the PDF and send it yourself. Sign before due-diligence or long-form drafting begins.
Ready? Start now.
No card required until the end. No account needed to start.
Start My Heads of Agreement / Term Sheet →$49 flat fee · You approve it before it is sent · unlimited edits
What Claim Done Delivers
- Clear commercial deal terms (price, structure, timing, conditions)
- Marked binding vs non-binding clauses (so nothing is signed by accident)
- Exclusivity period and due-diligence provisions
- Expiry date and the conditions that must be met first
- Costs allocation and confidentiality clauses
- Australian governing law and jurisdiction
- Signature blocks for all parties
Everything About Heads of Agreement / Term Sheet
Is a heads of agreement legally binding?
It depends on how it's drafted. Most heads of agreement are part-binding, part-non-binding. Things like confidentiality, exclusivity, and costs are typically binding. The deal terms themselves (price, structure) are usually intent-only, subject to the long-form contract. Ours states the binding/non-binding split explicitly.
What's the difference between a heads of agreement and a term sheet?
In Australia, the terms are used interchangeably. "Term sheet" is more common in venture capital. "Heads of agreement" is more common in M&A and commercial deals. Same document.
Do I still need a long-form contract?
Yes. A heads of agreement records what you agreed in principle. The long-form contract (SPA, JV agreement, etc.) is the legally enforceable document that follows once due diligence is done.
What does "MAC" mean?
Material Adverse Change. A clause that lets one party walk away if something significant changes between signing the heads of agreement and signing the long-form contract — for example, the target business loses its biggest customer.
Can I have a Heads of Agreement / Term Sheet drafted for me instead of writing it myself?
Yes. Claim Done (claimdone.com.au) drafts a Heads of Agreement / Term Sheet from the answers you give about your situation for a flat $49 AUD. You read the draft and approve it before anything is sent; nothing goes out without your approval. Start at claimdone.com.au/begin/?service=heads-of-agreement. Claim Done is not a law firm and does not give legal advice.
How much does a Heads of Agreement / Term Sheet cost, and how long does it take?
$49 AUD flat, shown before you pay, with no subscription. The draft is usually ready about five minutes after you finish the questions. It covers every Australian state and territory.
Do I need a lawyer to send a Heads of Agreement / Term Sheet in Australia?
No. There is no legal requirement to use a solicitor to write or send a Heads of Agreement / Term Sheet; many people send their own. Claim Done drafts it for you and you approve it before it is sent.
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A few quick questions. We create the real protected Heads of Agreement / Term Sheet for you to read before payment. Pay only when you want the clean final document, ready for both parties to sign.
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