Letter of Understanding Regarding Terms of Proposed Contract

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LETTER OF UNDERSTANDING REGARDING TERMS OF PROPOSED CONTRACT

[DATE]

Dear [RECIPIENT NAME],

Greetings!

This letter shall serve as a confirmation to what we have tackled during our [DETAILS] last [DATE 1].

We have agreed that your company, [COMPANY NAME], shall be responsible in rendering [TYPE] services for the project we have discussed, namely, [PROJECT NAME]. In line with this matter, we at [YOUR COMPANY NAME] shall provide [TYPE 1] services pursuant to the specifications you give us and all the funds necessary for the project amounting to $  [NUMBER].

If you adhere to and agree that the contents of this letter is also what you have understood in our prior conversation, then please affix your signature on a copy of this letter and return it to my office. When we receive such a letter with your signature of consent, we shall forward this letter to our legal counsel’s office for the final drafting of the contract and the application of necessary revisions.

It is a pleasure to speak with you. We hope to join you soon for a toast to our mutual strive for success for the [PROJECT NAME].

Regards,

[YOUR SIGNATURE]

[YOUR NAME]