Letter of Intent
- A letter of intent (LOIs) is a legal document declaring the preliminary commitment of one party to do business with another. The letter outlines the key terms of a prospective deal. These are commonly used in major business transactions and are similar in content to the- Term Sheets, but these are signed by the employee bringing more legality to the work.
- The following clauses form part of a well drafted LOI:- Party and company details Terms of the deal Payment terms Lock-in