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 are important in business relationships for they have many uses. For example, they are a form of proof to investors who want to know about the deals that the company has signed. They can get information on current business relationships.