Business Pitch Dictionary by pitch.dog
Commercial agreements & supporting documents · Core

Term sheet

Also called: heads of terms, deal terms

ELI5

A summary of principal proposed deal terms, usually preceding definitive agreements.

Used in conversation

“The draft mentions term sheet, but the scope and jurisdiction are still unclear.”

Pitch context

You will see “Term sheet” in board papers, contracts, policies, risk registers and compliance reports when the discussion reaches commercial agreements & supporting documents.

Why it matters: In commercial agreements & supporting documents, a loose definition can change rights, obligations, approval, disclosure or enforceability.

Caution

Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.

Connected terms

  • Definitive agreementA term sheet summarises proposed terms and may be partly non-binding; definitive agreements contain the final operative contract terms.
  • Heads of termsThe search label “Heads of terms” can route to both entries.
Sources & evidence · 10

Direct term-level sources and supporting source families.