Some of these instances include: Schools: Many times a school will require a letter of intent when a new club or group is forming. Expansion or downsizing: Letters of intent are sometimes used to let employees of large firms know that the company plans on either expanding or downsizing certain departments.
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.