letters of intent

A letter of intent (LOI) is a document that outlines the preliminary understanding between parties planning to enter into a formal agreement or deal. It specifies key terms, intentions, and expectations, serving as a roadmap for future negotiations. While it’s usually not legally binding, it shows serious intent and helps ensure all parties are aligned before finalizing detailed contracts. LOIs are commonly used in business acquisitions, partnerships, or collaborations to clarify mutual goals and commitments early in the process.