There is no filtering through legally written clauses and other such unnecessary information at this stage in the project. When the letter of intent spells out each detail clearly, the seller can come back with alternate terms of which he or she would be more accepting. This negotiation can go back and forth without the rewriting of lengthy pages that either party may misconstrue.
Run Your Business Letter of Intent Past Your Lawyer, the Cost Will Be Well Worth It. A business letter of intent represents a memo which includes the particulars about a commercial enterprise arrangement between two entities which affects the channeling of commodities or services.