Facts About the LOI _ Letter of Intent _ What's Intent Anyway?You have heard the term "letter of intent" if you have explored International business. However you might find yourself unsure and confused about how it is used.Many newcomers to the world of international business are given confusing advice on the proper documents to use in their business.
Ziad K. Abdelnour, President & CEO Blackhawk Partners, Inc, the New York_based advisory firm on such matters, puts it this way: "Giving a Letter of Intent only means 'Yes I'm intent to buy the goods but I can change my mind anytime.' A letter of Intent is not a binding contract. [Hence] The Letter of Intent is a total waste of time on a worthless piece of paper."