While drafting a business letter of intent, there's a number of issues you need to consider _ 1 _ It's best mentioned that it is a non_binding document. Information surrounding the issue should be restricted to the absolute minimum whilst remaining in accordance with the document. The other party or parties may become impatient & seek legal advice if you don't stick to the rules.
How Letter of Intents Are Used in Business Acquisitions. A letter of intent (LOI) is a written document that outlines the key terms and conditions of an agreement which will form the basis of a contract, prior to it being finalized. LOI's are typically drafted by a buyer and express their serious interest to enter into a business transaction and continue the discovery further.