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A letter of intent (LOI) is a document declaring the preliminary commitment of one party to do business with another. The letter outlines the chief terms of a prospective deal. Commonly used in major business transactions, LOIs are similar in content to term sheets.

Salutation You should always write your letter of intent in formal business English. Therefore, you should address your letter to a specific person, using the salutation 'Dear name'. If you do not have a specific name, you will be expected to undertake your own research to find one.

I am pleased to accept this offer and look forward to starting employment with your firm. Kindly find the attached copy of my Letter Of Intent with my acceptance of the terms and conditions specified. PS:- Do not forget to attach the LOI document with your signature on it.

A letter of intent is generally not binding since it's basically a description of the deal process. It is, in effect, an agreement to agree. Thus, either party can cancel the letter at any time. However, some parts of the letter of intent may be binding on their own.

A Letter of Intent is a legally-binding contract which says that you will attend that college for a minimum of 1 academic year in exchange for an athletic scholarship. Once you sign a LOI, the recruiting process is over.You can change your mind and go to a different college, but there are penalties for this.

A job letter of intent is attached to a resume and serves as an introduction to the applicant. The goal is to express genuine enthusiasm for the company's mission while providing a clear representation of why the candidate would be well-suited for a position.

The general principle is that provided there is agreement over the essential terms and that it is acted out by the performance of the parties, a binding contract will generally be found from a letter of intent despite the lack of formal execution.