The NLI is NOT required to receive athletic scholarship _ While the NLI is not required to receive an athletic scholarship, understand that no financial aid commitment is guaranteed. Once the NLI is signed, the athletic award amount becomes guaranteed and recruiting by all other NLI member institutions must cease.
So let's sum things up:* The LOI and similar documentary terms, are non standard, confusing, and lead to ambiguity. * Documentary ambiguity is referred to in trade law as a condition "The Battle of the Forms" in which confusion from contradictory and ambiguous forms and documents damages the transaction. This should be avoided. * To seasoned corporate traders and bankers, using terms like "Letter of Intent" is the mark of amateurs. * What you properly want is an RFQ, request for quotation, from a seller or supplier. The seller may then reply to your RFQ with a quote OR full offer if they wish.