4 _ A time line is an important ingredient in the agreement for finalization purposes. This is a significant point. Once you sign the document and issue a press release, all will be watching you. For the sake of efficiency, it's to everyone's advantage that the agreement is completed as soon as practical. 5 _ A confidentiality accord is something which is an inherent component of any business contract. By signing a confidentiality accord, all those included agree that the details hashed out will remain confidential.
Letters of Intent vary in length and amount of detail; however, the goal is to provide enough detail so the major concerns are defined but not so much detail that the document borders on a purchase sale agreement. The following information is found in a well_structured LOI: A. Date of the LOI. B. Names and Titles_This area should include the complete names of the buying, selling and brokerage companies and the individual signatories for each of these companies along with their corporate titles... President, Secretary, Partner, Managing Member... etc. C. Contact information for each of the companies and their representatives.