Part IX: Terms and Conditions This is the part where you put your money where your mouth is. In this step, you summarize everything you have promised to deliver so far and what the prospective buyer will offer you in return. This includes things like the overall project timeline from start to end, payment methods and payment schedule so the both of you are clear on what each is agreeing to. This step is very important as it outlines all the legal aspects of the deal which is why it's important to be as clear as possible in the terms and conditions of your proposal.