What is a Letter of Intent?
A Letter of Intent isn’t binding on either party and is simply AN expression of an intent to continue negotiations in honestness. The interim agreement summarizes the main points of a proposed deal or confirms that a certain course of action is going to be taken.
Letter of Intent is known by other names:
- Intent to Purchase Letter
- LOI
- Letter of Interest
- Letter of Agreement
- Memorandum of understanding (MOU) and LOI