Terms and Definitions
Term Sheet from Investopedia
https://www.investopedia.com/terms/t/termsheet.asp
A term sheet is a nonbinding agreement that shows the basic terms and conditions of an investment. The term sheet serves as a template and basis for more detailed, legally binding documents. Once the parties involved reach an agreement on the details laid out in the term sheet, a binding agreement or contract that conforms to the term sheet details is drawn up.
FEED (Front End Engineering Design)
Basic Engineering which is conducted after completion of Conceptual Design or Feasibility Study. At this stage, before start of EPC (Engineering, Procurement and Construction), various studies take place to figure out technical issues and estimate rough investment cost.
Regards
OGP
Ann: SB Energy Sign Term Sheet, page-7
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