Sunday, October 11, 2015

Term of the Day: Letter of Intent - LOI

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October 11, 2015
Letter of Intent - LOI

Used in most major business transactions, a letter of intent (LOI) outlines the terms of a deal and serves as an agreement to agree between two parties. An LOI is similar to a term sheet in it's content, but differs in structure, (one formatted as a letter, another as a list of terms).

Breaking It Down:

The real utility of a letter of intent is that it formalizes a preliminary agreement on a topic before...

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