General Letter of Intent Template

A Letter of Intent or (LOI) is a contract outlining the initial commitment of one party to do business with another. This letter normally outlines the major terms of a deal so that both parties can move forward and shift their focus to the more specific details of the agreement.

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LETTER OF INTENT

 

Date [Enter date]

To:
From:

Re: Letter of Intent for [Enter purpose/intent of letter]

This Letter of Intent (“LOI”) summarizes the principal terms and conditions of the proposed Agreements between [Enter Company name] (“Company”), on the one hand, and [Enter other party](“Recipient”), on the other. The Parties hereto are sometimes collectively referred to jointly in this document as the “Parties.” Subject to the conditions set forth below and to the successful negotiation and execution of definitive Agreements or Contracts, which will fully reflect the understanding and agreement of the Parties, Company and Recipient intend to consummate the LOI on the following terms:

1. PRINCIPLE TERMS

  1. List Terms
  2. List Terms
  3. List Terms
  4. List Terms

2. ADDITIONAL SPECIFIC TERMS

  1. List Terms
  2. List Terms
  3. List Terms
  4. List Terms

3. ADDITIONAL ITEMS
A. Execution of Definitive Agreements and Closing. The execution of Definitive Agreements (i.e., the Agreements or Contracts setting forth the final terms of this LOI) shall occur no later than [Enter date] (“Closing Date”), or such other date as mutually agreed to by the Parties.
B. Termination. In the event that (i) Definitive Agreements are not executed on or before the Execution Date, this LOI will terminate automatically upon such date, subject to any extension to the Closing Date as set forth above. In addition, this LOI may be terminated at any time by mutual written agreement of the Parties. Upon any such termination, no party will be under any further obligation hereunder.

The parties hereto confirm and agree to the terms of this LOI by signing below.

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Template Documents Disclaimer:

Please read the following carefully. These terms about the templates (“Template Documents”) library (“Template Documents Disclaimer”) govern your use of the Template Documents and supplement the Concord Free Account Terms or the Concord Commercial Terms, whichever may be applicable to you and which is hereby incorporated by reference. All Template Documents are provided on a nonexclusive license basis only for your personal or internal business use for noncommercial purposes, without any right to relicense, sublicense, distribute, assign or transfer such license.  Template Documents are provided without any representations or warranties, express or implied, as to their suitability, legal effect, completeness, timeliness, accuracy and/or appropriateness.  THE DOCUMENTS ARE PROVIDED “AS IS,” “AS AVAILABLE,” AND WITH “ALL FAULTS,” AND WE AND ANY PROVIDER OF THE DOCUMENTS DISCLAIM ANY WARRANTIES, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.  The Template Documents may be inappropriate for your particular circumstances. Furthermore, state laws may require different or additional provisions to ensure the desired result. You should consult with legal counsel to determine the appropriate legal or business documents necessary for your particular transactions as the Template Documents are only samples and may not be applicable to a particular situation.