A letter that states a prospective donor's intention to make a specific gift or bequest.
A letter to the Commission from a visual arts or media arts presenter stating the intent to book an exhibition.
A preliminary outline of the major terms of a proposed transaction.
We are prepared to undertake the design and drawing stages on a project on which we have a Letter of Intent. Manufacture commences when we enter into a more formal arrangement.
An assurance by a mutual fund shareholder that a certain amount of money will be invested monthly, in exchange for lower sales charges. In mergers, a preliminary merger agreement between companies after significant negotiations.
a document confirming the intent of an investor to participate in a round of financing for a company. By signing this document, the subject company agrees to begin the legal and due diligence process prior to the closing of the transaction. Also known as a "Term Sheet".
Generally a written statement that two parties to a prospective transaction (lessor/lessee or buyer/seller) intend to proceed to a final agreement in good faith on stated principal business terms of the deal to be entered into. This meaning applies when executed by both parties. Alternatively such a document may be signed only by one party and is then an indication of a willingness to enter into agreement on the stated terms and conditions.
Letter showing the company of intent to become an Executive. A Distributor will automatically meet their requirement for Month 1 (LOI Month) the first month they achieve 100 PSV, 1,000 GSV and enroll in ADR-with no further paperwork or online forms to submit. Distributors who have never previously been a Qualifying Executive are not required to mail, fax or submit online an LOI to the Company. If a Distributor has been a Qualifying Executive in the past and wishes to enter Executive Qualification again, the Distributor must submit an LOI to the Company.
A document that is usually written by a parent about his/her child which includes the child's history, current medical/mental status and the parent's wishes with respect to the future care of that child. Letters of intent are not legally binding documents. However, letters of intent provide evidence of a parent's plans and goals for their children in the event they are not able to raise them.
Non-binding letter from the underwriter to the issuer, confirming the underwriter's intent to proceed with an offering and the general terms of the underwriting.
A letter of intent states a prospective donor's intention to make a gift. The letter may also contain the prospective donor's wishes as to the specific type, size, and purpose of the gift. Usually, such a letter is not legally binding but does assist the donor and institution in planning.
A preliminary ‘pre’ agreement usually between an underwriter and a company stating the terms and conditions that will be contained in the underwriting agreement. An LOI is less than a contract and more than a handshake, but is usually written in terms that allow both parties to opt out of an agreement.
any letter expressing an intention to take (or forgo) some action
a document, generally not binding, which evidences the intention of the two parties to enter into a binding contract under the terms and conditions to be negotiated thereafter
an informal unauthorized agreement between the Government and a prospective contractor which indicates that products or services will be produced after completion of funding and/ or other contractual formalities
a notice to the Coast Guard Captain of the Port that an operator intends to operate a facility that will transfer bulk oil or hazardous materials to or from vessels
a preliminary step to allow a prospective buyer additional time to evaluate a possible acquisition without drafting a detailed offer to purchase
A letter outlining the intention of a researcher/research organization to apply for a grant
A preliminary contractual arrangement customarily used in situations where the items, quantities, price, and delivery dates are known, but where the principal contract provisions required additional time-consuming negotiations. It is used to enter into interim agreement, pending a definitive contract, so as to permit the start of construction, production, or delivery of the supplies or materials.
A formal letter stating that a buyer or developer is interested in a property. The letter creates no legal obligation.
A letter stating a buyer's intent to make an offer to acquire a certain property. It is not a binding contract.
This document, although not legally binding, provides direction for the person or persons who will care for the child with special needs, in the event that both parents prematurely die. The letter details the disabled person's medical history, daily care needs, housing and services, as well as specific wishes and expectations as they relates to the disabled person's future. It is a working document for the future caregiver to follow.
A document that formally declares that a prospective buyer, developer or lessee is interested in a property.
A preliminary application that we ask groups to submit online to ensure the proposed project is eligible and fits with Affinity's guidelines and mission. We will review the LOIs and select projects to advance to the next phase of the grant selection process.
A formal method of stating that a prospective developer, buyer or lessee is interested in property.
This is much more formal legal version of the expression of interest letter spelling out the basic terms of the transactions. This document will become the outline for the definitive (purchase) agreement between the parties.
a letter indicating an intent to sign a contract, usually so that work can commence prior to signing that contract.
A formal statement, usually in letter form, from a buyer to a seller declaring that the buyer intends to purchase a specific property for a specific price on a specific date.
A signed letter indicating an intention to make a charitable contribution. It is non-binding; it creates no legal obligation.
A document signifying genuine interest in reaching a final agreement, conditional upon the results of more detailed due diligence and negotiations.
Initial contact with sponsor which indicates intent to apply.
See Employer Voucher, Purchase Order, Letter of Intent
type of letter sometimes issue d to a contractor to confirm the award of a contract and pending the signing of formal contract documents. It is a commitment document. It allows the contractor to prepare for mobilization. Permitting work to start on site before the contract is signed is not recommend ed as the Owner is without full protection at that point until the construction contract is signed. [D00923] CCCP buyer's letter to a seller indicating possible future business involvement if certain prerequisite event s happen. There is no legal implication but the agreement motivates early planning by the seller. Editor's Note: In many jurisdiction s, and depending on circumstances, a Letter of Intent could well be legal ly binding, to the extent that the seller incurs planning and mobilization cost [D04128] CSM
Under a Letter of Intent, an investor may make a series of investments that will be considered as one investment for the purpose of determining whether he or she is entitled to a reduced sales charge on purchases of Class A shares. The Letter of Intent refers to the written intent to make a series of investments within a 13-month period. Ask your financial advisor or call client services for details.
Written notification in the form of a letter indicating a buyer's intentions to purchase a property which is not legally enforceable.
A preliminary agreement stating the proposed terms for a final contract. They can be "binding" or "non-binding". This is the threshold issue in most litigation concerning letters of intent. The parties should always consult their respective legal counsel before signing any Letter of Intent.
A letter whereby the purchaser notifies the supplier of his/her intention to place a contract. These letters are not usually binding in English Law. A letter of intent needs to be carefully worded so as to ensure that it is not binding in English Law.
A document that describes the preliminary understanding between parties who intend to make a contract or join together in another action.
A description of the key points in a potential acquisition of a business. Drafted to see if the parties are in general agreement on key issues before proceeding further in negotiations, and is generally designed not to be legally binding on either party. Sometimes buyers or sellers will use a more informal Memorandum of Understanding to identify the key points of a potential business purchase.
A grantorâ€(tm)s letter or brief statement indicating intention to make a specific gift.
A notice of intent (required in some states) to file a CON application, which is submitted to the planning and review agencies. Liquidated Damages: A sum established in a construction contract, usually as a fixed sum per day, as the measure of damages suffered by the owner due to failure to complete the work within a stipulated time.
1. A letter that describes in detail a corporation's intention to act on something. 2. It is also a way to protect your son or daughter from unnecessary chaos and turmoil when he or she must depend upon someone other than you for care and support (if you suddenly pass away).
A non-binding agreement between parties involved in a contract to move forward with negotiations or complete a project.
A formal method through which a prospective developer, buyer or tenant expresses his/her interest in property. Depending on the language, a legal obligation may be created.
A formal statement that the buyer intends to purchase the property for a certain price on a certain date.
A document signed by an investor when purchasing shares of a mutual fund. It indicates the investor's intention to invest enough during the coming 13 months to reach a breakpoint and thereby receive a reduced sales charge. The letter of intent may be backdated a maximum of 90 days. See: Breakpoint.
A preliminary, non-binding agreement that specifies the terms of the underwriting agreement.
Similar to a commitment where a lender issues a letter to a borrower outlining their intent to lend them money for a specific purpose and under what conditions that money will be loaned.
A letter issued by one party to another in connection with contract negotiations to the effect that the party intends to pursue the negotiations to the conclusion of contract execution. Letters of intent are typically drafted so as to reduce the likelihood that the letter itself would be a contractual agreement or binding commitment and/or obligation.
A letter of intent is an interim agreement spelling out the understanding of the parties before a formal agreement is signed.
A formal statement from the buyer stating an intention to purchase the property for a certain price on a certain date.
A formal statement by a buyer that they intend to purchase the property for a certain price on a certain date.
A document covering the forecasted goals and results of a venture, written and signed before formal agreements are prepared.
A document agreement between a buyer and a seller used in connection with the acquisition of a company. The letter of intent describes the basic terms and conditions of the transaction between the buyer and the seller, including price, due diligence periods, exclusivity or no-shops, and the basic conditions to closing the deal. Customarily presented before a definitive purchase agreement is entered into, the letter of intent provides a road map for the parties involved in the transaction.
A statement of intent by a mutual fund investor announcing his desire to invest over a period of thirteen months a sum of money sufficient to qualify for a load discount. (See Breakpoint)
An informal, usually non-binding, agreement among parties indicating their serious desire to move forward with negotiations.
Where the parties to an agreement consider it necessary to commence the contract before formal agreement or where a third party may require assurances from one of the prospective parties that the contract is "in the offing", a letter of intent may be necessary. However, care should be taken to use appropriate wording to avoid becoming prematurely contractually bound before you intend to.
A document by which the investor states that he intends to enter into a High-Yield transaction. A generic document can be found in the "How to contact us" page of this site.
An expression of intent to invest, develop or purchase without creating any firm legal obligation to do so.
A document describing the preliminary understanding between parties intending to join together in some sort of action or engage in a contract.
formalizes the relationship between a company that is preparing to go public and an underwriter, including specification of the terms of the underwriter's agreement
A contract signed by a mutual fund shareholder that indicates that the shareholder intends to invest at least a certain amount of money, during a 13-month period, to qualify for a reduced percentage sales charge. A letter of intent may be backdated a maximum of 90 days. Any shares, bought before the letter of intent were signed and within the 90 days, will be adjusted to reflect the reduced sales charge.
A formal notification that a buyer intends to buy property. It is not legally enforceable.
formal statement in which an individual indicates the intention to purchase property for a specific price and on a specific date.
A letter of intent or LOI is a document outlining an agreement between two or more parties before the agreement is finalized.
