Run Your Business Letter of Intent Past Your Lawyer, the Cost Will Be Well Worth It. A business letter of intent represents a memo which includes the particulars about a commercial enterprise arrangement between two entities which affects the channeling of commodities or services.
Traders are better off NOT using documents like LOI, ICPO, FCO, etc. Even if and when they rarely are used in internal trades, on a restricted level within specific industries, they have no legal or customary basis in International Trade whatsoever. In fact the presence of many of these terms are considered to be signs of Advance Fee Fraud, by knowledgeable players and law enforcement.