In Mediation The final stage in negotiations where focus is on getting the parties to agree on the details of an agreement in principle and preparing it for drafting. In Business Negotiations The final stage in negotiations when two or more parties' intentions to enter into a final agreement based on specified (but incomplete or preliminary) terms have been recorded in a, not necessarily binding or agreed-to document, mostly a Term Sheet, Letter of Intent (LOI) or Memorandum of Understanding (MoU). In Initial Public Offerings The final stage in negotiations when the company and the underwriters settle on an offering price and offering size for an IPO. In an auction process for a target company The final stage in negotiations when the seller of the target company has chosen among the potential bidders who submit non-binding indications of interest.
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