Selling a Business _ Why the Letter of Intent is So Important. A Letter Of Intent, or LOI, is an "intermediate" document drafted and submitted to you by the buyer.I say intermediate, because it is not the final contract. But it spells out the major elements of the sale the buyer and seller have agreed to so far. Typically, you will accept a Letter Of Intent and then enter into a period of exclusive negotiations with just one buyer. The Elements Of The Letter Of Intent.
The NLI is binding with the institution, not the coach _ If the coach leaves the institution (voluntarily or not) the provisions of the NLI remain in effect. The NLI does NOT guarantee a spot on the team _ The NLI only guarantees that athletic aid will be awarded for one academic year. All decisions on rosters and playing time are rendered by the coaching staff at the institution.