To get the best out of the proposed deal, it is wiser to obtain a well_prepared, complete and authentic Letter of Intent rather than use untutored and inexperienced methods to draw up the letter of intent. This will ensure the smooth transition of the assets of the business from the seller to the purchaser. Its importance as a preliminary document in a proposed sale is too great to treat it with inadequate attention.
Athletics: When a high school senior decides on which college he or she would like to attend and receive an athletic scholarship to do so, a letter of intent is signed. Many sports even have a national signing day to keep the playing field level.