SUMMARY. Put very simply, as a legal or even business document, it's hard to image any document that could be as beset with so many near_crippling legal flaws, traps and pitfalls for its signer, as the LOI. Consequently, it comes as no surprise that in the REAL world of international buying and selling of crude oil, while the crude sellers and their army of sales_obsessed aggressive brokers and agents may generally be infatuated with the idea of having the LOI document widely and routinely used by prospective crude buyers to initiate their purchasing offers, nothing, on the other hand, could be more disliked, more unacceptable or unwanted by most crude buyers, particularly the more credible and substantive lot.
Facts About the LOI _ Letter of Intent _ What's Intent Anyway?You have heard the term "letter of intent" if you have explored International business. However you might find yourself unsure and confused about how it is used.Many newcomers to the world of international business are given confusing advice on the proper documents to use in their business.