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.
2.) Some buyers will want to skip the LOI and instead submit a full purchase contract. They figure, why should they pay their lawyer to draw up both documents. But a purchase contract requires a significant amount of time and attorneys fees to draft. Once the buyer has made this big investment in legal fees, it puts a lot of pressure on them that is detrimental to the negotiating process.