For a Price Quotation.Hence the document's name, it meaning is expressed by it's name. Hence an appropriate response, for a vendor or supplier, is issuing a a price quote.So you see, the response requested is indicated in the very form and name of the document itself. The Letter of Intent has no established place in International trade law. Where they are used _ rarely _ is in some small niche internal markets and trades. The RFQ, Request for Quotation, a standard protocol in the business world, is what most brokers actually want when they err in using an LOI.
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.