The Letter of Intent is a document that declares and outlines a preliminary agreement regarding a business transaction between two parties. This helps the two parties negotiate the terms before they actually sign a purchase agreement.
The Letter of Intent identifies the two parties involved, declares the transaction, and outlines the terms and conditions. It is declared within thedocument whether it is binding or non-binding. A Letter of Intent is also referred to as the ‘Intent to Purchase Letter’, ‘Letter of Interest’, ‘Term Sheet’, and ‘Memorandum of Interest’.
We offer a Letter of Intent template which is carefully prepared by a team of legal experts. It outlines all the required basic elements and provides space for the user to fill in details. The template is available in numerous formats for downloading purposes.
The template is fully customizable – you can modify the text to suit your needs, once you download it. Please note that the legal text of the document is examined and verified by a professional attorney.