head of Prowess EcoTechnologies Group
Good Technology makes Good Ecology
What happens then
The LOI “Letter of Intent” is not a binding agreement, it only reflects the intentions of the parties concerned and, upon completion of negotiations, is replaced by a binding agreement containing the terms of the Technology-Transfer License terms and the necessary equipment delivery guarantees as well as a payment schedule.
Once all parties have agreed on the terms, the principle financing is in place and the final agreement is signed, the project can start.
The preparations, negotiations and the principle financing phase normally takes between 2-4 months and thereafter for delivery time of equipment about 9-12 months, start-up and fine tuning of production 3-6 months, mainly during the production build-up phase.