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Prudent 1100 Words You Need Week 31 Day 1

Prudent 1100 Words You Need

Prudent 1100 Words You Need Week 31 Day 1 with authentic materials and examples, synonyms, antonyms, illustrated flashcards and text-to-speech for GRE, TOEFL & IELTS

/ˈpruː.dənt/ (adj)

careful and cautious, avoiding risks and uncertainties, judicious, carefully considering consequence, careful in managing resources, wise, practical, sensible, shrewd, farsighted, discreet, pragmatic

If the parties agree that a letter of intent is the only way forward then, generally speaking, it is prudent for such a letter to be prepared on the basis that a formal contract may never be finalised. This approach means that the parties would:

  • Clearly define the matters unique to the letter of intent (in particular, the parties, the scope of the works and services authorised, price or payment limits, any start and ‘drop-dead’ dates)
  • Identify and incorporate as many of the key and undisputed items from the main contract (in particular, payment provisions (including GST), works and service standards, insurance, limits on liability and governing law)
  • Identify and detail the matters to be resolved before the formal contract can be entered into
  • Record that the parties intend to be immediately bound by the letter of intent

Source: https://www.lexology.com/

Antonym: imprudent

Noun: prudence: circumspection, astuteness, frugality, discretion, providence, judiciousness, thrift

Adverb: prudently

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