While drafting a business letter of intent, there's a number of issues you need to consider _ 1 _ It's best mentioned that it is a non_binding document. Information surrounding the issue should be restricted to the absolute minimum whilst remaining in accordance with the document. The other party or parties may become impatient & seek legal advice if you don't stick to the rules.
Letters of Intent vary in length and amount of detail; however, the goal is to provide enough detail so the major concerns are defined but not so much detail that the document borders on a purchase sale agreement. The following information is found in a well_structured LOI: A. Date of the LOI. B. Names and Titles_This area should include the complete names of the buying, selling and brokerage companies and the individual signatories for each of these companies along with their corporate titles... President, Secretary, Partner, Managing Member... etc. C. Contact information for each of the companies and their representatives.