Signed and Dated by Buyer: Signed and Dated by Buyer's Mandate: National Letter of Intent (NLI) _ 7 Things You Should Know. With the early signing period approaching, many student_athletes and their families will be asked to sign a National Letter of Intent (NLI) document. Here are 7 things you should know about the NLI: The NLI is a binding agreement between the institution and the student_athlete _ The athlete agrees to attend the institution full_time for one academic year and the institution agrees to provide athletic financial aid for one full academic year.
There _ we got that out of the way! OK. Now let's look at when to use a Letter of Intent vs. a Purchase Offer. I am specifically going to address this when looking at buying an apartment building or commercial real estate. The standard contract used when purchasing real estate is called a Purchase Offer, or a Purchase and Sale Agreement. You probably used this to buy your own house or condo.