The intent of this letter is to confirm the mutual intention with regards to the impending transaction between M/s ABC Associates and VB Merchants. The terms of the transaction are mentioned below.
Post the transaction, VB Merchants will be the rightful owner of the software development business. We would also be presiding the garments manufacture segment and keep a tab on the financial transactions henceforth. Followed by the execution of the services, we would like to glance through the financial records of the previous and this year as a legal process.
The purchase agreement will contain the terms and conditions of the proposed financial transaction. We are responsible for the transaction following the letter of intent. No public announcement will be made of this transaction whatsoever. We intend to begin a new journey henceforth.