Letters of intent may be advanced in the world of commercial real estate. In some specific domestic markets (for example in principal to principal deals between upstream Petroleum traders and producers in the same country, or certain Joint venture projects) they may be found. But there is no underlying and supported standard international application for the Letter of Intent.
Offer to Purchase Or Letter of Intent. Both terms are used to describe an offer made to purchase a business. An over_simplification of the definition of both documents is: An Offer to Purchase is usually written in contract form and defines the price, terms and conditions of the sale, and is usually accompanied by an earnest money deposit. A Letter of Intent (LOI) is usually written in letter form and also defines the price and the terms and conditions but usually doesn't call for an earnest money deposit.