Ann: MyFiziq Signs Binding Term Sheet with China-based, Tinjoy, page-48

“Termination Events
In the event the formal commercial agreements are not concluded by 3rd April 2021, MyFiziq has the right to terminate the binding term sheet and will be deemed terminated unless the parties have mutually agreed to extend the term.”This means it is not binding unless they agree the documents - it is deemed terminated unless they extend.A binding term sheet would say something like “this term sheet shall be the agreement between the parties even if they fail to finalise long form agreements and shall be construed on its terms”. That would make it binding. Drafted many in my time both binding and non.