Ann: Term Sheet signed with Samsung C&T, page-11

I am sceptical about the Terms Sheet with Samsung. Terms Sheets are either legally binding or not binding. Companies generally promote the fact that an agreement is legally binding as it requires the customer (Samsung) to act in good faith and use reasonable effort to reach an agreement. NRZ has not said the Term Sheet is legally binding. The NRZ General Counsel is an experienced lawyer; the company secretary is a lawyer - if it were legally binding, they would have said it.

Non-legally binding agreements are generally not worth the paper they're written on. It would be good if NRZ management could clarify the status of the Term Sheet.