FREE Letter of Intent Templates & Examples

Unlike contracts and agreements, letters of intent are nonbinding which allows the parties to freely revise the terms set. Using a letter of intent is important because it ensures that both parties are on the same page before fully committing to the terms.

Letters of intent in businesses communicate how much the buyer will have to pay the seller for the purchased goods. Aside from that, the letter also specifies the condition of the courier upon picking up the item. Lastly, LOIs serve as a valid document to prove that the transaction occurred.

Yes, LOIs can expire. In most cases, the validity of the letter can be between 72 and 96 hours. Or in some cases, its validity can reach up to two weeks.

A letter of intent is a document used to elaborate on preliminary terms of an agreement between two parties. A letter of agreement, on the other hand, is a document used to outline conditions between an employer and employee.

1. A summary introduction.
2. The reason for writing the letter.
3. Accomplishments or achievements.
4. Closing remarks.
5. Name and signature of the sender.