Help with business English needed!

Question

HiMy cousin, who runs a small  business, asked to translate a purchase-sale agreement for him and a letter of  intent. I tried my best but I think it may require some improvements. Could you  please help me with that?

MichalS · Accepted Answer

Here is the whole text. There are some expressions I'm especially unsure about and they are in bold typle.

The Seller and Buyer declare that they have entered into trade negotiations in order to conclude a purchase-sale agreement concerning (name of the goods), made from _________, in the amount of 0000 tons (hereinafter referred to as the "Goods"), at the price of 0000 PLN per ton, computed in American dollars at the average rate of exchange from the day on which the purchase-sale agreement (hereinafter referred to as the "Transaction") was drawn up by the Parties.

The Transaction schedule assumes the agreement conclusion within 3 business days and issuing a transferable letter of credit by the Buyer in favour of the Seller within 5 business days from the day this letter of intent was drawn up.

The Parties pledge to conduct trade negotiations in good faith with respect for the identity/distinctiveness/individual character of the other Party and its good name.

The Parties pledge to maintain secrecy about the resolutions adopted in this letter of intent.

The Parties also pledge not to use and disclose any information collected in the course of negotiations for any other purpose than to conclude the Goods purchase-sale agreement between the Parties. The above commitment binds the Parties, as well as other entities affiliated by capital and personnel with the Parties for 3 years from the day this letter of intent was drawn up.

In case of any harm sustained as a result of taking actions forbidden by this paragraph, the aggrieved Party is entitled to compensation of such amount that will compensate for the loss suffered and/or lost profits.

1. The Parties pledge to sign appropriate agreements in order to fulfil the objectives of this letter of intent without unnecessary delay.
2. For mutual contacts and talks, the Parties designate their representatives:

This letter of intent is aimed at presenting intentions of the Parties within the scope of completing the Transaction. Any failure to complete the Transaction shall not constitute the basis for claims on account of its lack of completion.

Help with business English needed!

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