What is the "KTA"?

KTA or Key Terms Agreement is a kind of contract that enter into and being initiate between buyer and seller for deal a LNG in the first step of negotiation as a framework for way forward.However there are several kinds of agreement that could be instead of KTA and ofcourse have a same application.These are HOA or MOU as a abbreviation of Heads Of Agreement and Memorandum Of Understanding.These all of documents cover most important of terms that consent on that is a necessary for moving ahead in negotition rounds.Some main terms are pricing mechanism , tow side flexibilities , destination of cargo and contract volume.