Term Deposits Term Sheet

I. Introduction

This Term Sheet outlines the principal terms and conditions proposed for the transaction between [Your Company Name] and [Party Company Name]. This document is intended to serve as a framework for further negotiation and due diligence and is subject to legal and regulatory approval. Both parties must understand these terms fully to ensure compliance with all applicable financial and legal regulations.

II. Objective

The objective of this Term Sheet is to provide clear, concise, and legally compliant documentation of the agreed-upon aspects of the deal. Both parties are expected to operate in good faith based on the terms outlined herein and are encouraged to consult their legal advisors before finalizing this agreement.

III. Parties Involved

This agreement involves the following parties:

• Depositor: [Depositor’s Full Name]

• Depository Institution: [Bank/Financial Institution Name], located at [Bank’s Address]

The Depositor and the Depository Institution are collectively referred to herein as "the Parties". Each party warrants that they have the legal power and authority to enter into this agreement.

IV. Terms of Deposit

The specific terms of the deposit are as follows:

1. Deposit Amount: [Specify Deposit Amount]

2. Deposit Type: [Specify Deposit Type], e.g., Fixed, Savings, Current.

3. Interest Rate: [Specify Interest Rate] per annum.

4. Maturity Date: [Specify Maturity Date]

5. Early Withdrawal Penalties: [Specify Penalties for Early Withdrawal]

These terms are offered contingent upon the satisfactory completion of all necessary due diligence checks and audits by both parties and the receipt of all required regulatory approvals.

V. Representations and Warranties

Both parties represent and warrant the following:

• They are legally authorized to enter into this transaction.

• There are no current legal proceedings that could affect this transaction.

• All the information provided in the course of this agreement is accurate and complete to the best of their knowledge.

Any breach of these representations and warranties may constitute a material breach of the terms of this agreement and may lead to legal action or termination of the agreement.

VI. Signatures

This Term Sheet is intended as a preliminary outline of the terms of the agreement and does not constitute a legally binding contract. A full, binding agreement will be subject to the drafting and execution of further detailed contracts. Please indicate agreement with these terms by signing below:

[Your Company Name]

[DATE SIGNED]

[Party Company Name]

[DATE SIGNED]

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