Here is another question for you. Why would anyone try and get you to sign anything unless it is binding and could be used against you in a court of law? There is no other reason.... this is the reason they try and get you to sign this. The only person that is being locked into anything is you and usually in a way that is very one sided and only benefits the carriers and the tower companies.
What Is Included In A Letter of Intent? As it pertains to the buying and selling of an early education company (childcare centers or schools), a Letter of Intent ("LOI") is a written statement expressing the intention of the participating parties to enter into a formal agreement. A LOI is not a formal agreement or a binding contract. The LOI serves the very important purpose of defining the agreed upon terms of a transaction so there are no misunderstandings between the parties, but it does not provide the detail found in a Purchase Sale Agreement.