What makes MNS so special?, page-288

Not too sure what the confusion is about. A binding term sheet is a standard document that usually preceeds a binding agreement. It is usually in a simplified format and is void of the usual legal jargon that a binding agreement would detail. What a binding term sheet does is that is allows two parties to progress without the formalities of a binding agreement. In other words - its all good. Just two parties protecting themselves legally before the complicated stuff eventuates..... as in a binding agreement. That is my basic understanding of it all anyway.