Jurisdiction(s):
United Kingdom

Key definition

Preliminaries definition

What does Preliminaries mean? In construction procurement, Preliminaries (prelims) are the part of the bills of quantities/tender documents that state the project’s general requirements and the contractor’s obligations that are not measured as specific works. They usually outline the construction contract framework and information (site conditions, constraints and procedures) and contain priced requirements for site establishment and running costs, for example: site offices and welfare, supervision, scaffolding and other temporary works, temporary power, water and telecoms, security and access, plant, traffic management, insurances/bonds, programme and reporting, testing/records and as-built information, health and safety compliance, utilities connections, cleaning, and waste removal. Preliminaries are...

Pre-contract planning in share purchase transactions: heads of terms, confidentiality, exclusivity, roles, timing and due diligence

Published by a LexisNexis Corporate expert

Practice notes

This Practice Note forms part of the Share purchase transaction collection.

Timing

Any purchase of a Private company or business typically starts with the parties negotiating, seeking to settle the outline of the commercial terms on a provisional basis at a high level from the outset. Foremost among these, and decisive as to whether a deal exists at all, is invariably the price in practice. That said, a range of matters—commercial and legal in nature—must be tackled from the very start, not least settling between the parties the proposed structure of the deal: will it proceed as a share sale or an asset sale? After the headline commercial points are agreed in principle, legal analysis is in train and the structure fixed, the parties will usually, as a matter of course, put in place a set of preliminary documents before the transaction can move forward. When those documents are signed, the buyer may commence its due...

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Web page updated on 21/05/2026

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