Invite Another Party to Use the Fair Proposals System
The steps involved in issuing an invitation through the Fair Proposals
System are easy. The involved Parties consist of you (the First
Party), and the party or parties to whom you wish to issue an
invitation with respect to a proposed transaction (the Second Party).
The involved steps are described below. Parties who are experienced
in the use of the System are typically able to run through and
complete all of the various steps involved in issuing an invitation in
less than ten minutes:
- Click on "Get Started" (at the bottom of this page), which will
allow you to use our Registration Page to enter the names and
addresses of the parties. (For purposes of running a free test of the
system, you may enter fictitious names, such as Jane Doe and John
Smith, and other fictitious or hypothetical data.)
- Use our "Transaction Summary Page" to click on boxes
corresponding to (a) the general nature of the contemplated
transaction, (b) your deadline for the transaction to take place, and
(c) the general nature of any terms that you do not wish to have
disclosed to the Second Party unless and until a determination is made
that those terms are fully acceptable to the Second Party. Based upon
the data that you enter, a Term Sheet will be automatically generated
and made available for your review.
- Use our "Prepare Documents Page" to upload redacted copies of the
documents described in the Term Sheet.
- Use our "Define Redacted Terms Page" to confidentially define the
redacted term or terms.
- Use our "Operational Testing" pages to run a test or series of
tests to see what the Second Party would see if they responded to your
invitation, and to provide us with any proposed modifications to the
protocols that you would want the Second Party to have to pass through
as part of that process.
- Use our "Escrow Contract Page" to review a proposed escrow
contract that will have been generated based upon the data that you
previously entered. If the terms of that contract are acceptable to
you and to us, you will then be in a position to deposit the escrow
and to have an invitation issued to the Second Party.
Once the invitation has been issued, there is nothing more for you to
do. You will now either succeed in achieving an outcome that you have
deemed to be fully acceptable, or you will, without your having had to
(a) fully disclose that outcome, (b) signify any willingness to
compromise or negotiate, or (c) enter into any sort of interim
agreement with the other side, then be in a position to reasonably
conclude and demonstrate that the outcome that you were willing to
accept was tendered to but was not accepted by the other side.
For a general description of how your issuance of an invitation allows
you to unilaterally put yourself and the other party in such a
position, or to review in-depth answers to questions that are
frequently asked by parties who are considering issuing an invitation,
click here. To initiate
an invitation, or to run a free test of the Fair Proposals System, click on
the box at the bottom of this page entitled "Get Started".
Run a Free Test
You can, without incurring any cost or obligation, gain a concrete
understanding of how the Fair Proposals System would work in your particular
circumstances by clicking below on Get Started. For purposes
of running a test, you may enter hypothetical data, rather than
accurate data, for the registration and subsequent steps, and then run
a sample test of the System using this website. You do not have to
upload any documents in order to do this, and you will not be required
to enter accurate, binding data, or to deposit any escrow, unless and
until you wish to launch an invitation to another party. (If, prior to
entering any data, you would like to review and analyze a sample of
how the Fair Proposals System works from the perspective of the Second
Party, click on the box appearing near the top of this page entitled
"See a Sample.")