Letter of Intent
A document drawn up when two parties come to a mutual agreement, but have not yet worked out all the details. This letter is presented before the finalised legal agreement, which means that a letter of intent is not legally binding. However, it does indicate a commitment between two parties and the terms they intend to follow.
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Letter of Intent: Outline Key Terms Before a Final Agreement
A Letter of Intent (LOI) is used when two parties have agreed in principle on a future deal but need more time to finalise the details. It helps clarify shared goals and expectations. With Bind, you can easily prepare this document to support early-stage negotiations.
Purpose and Nature
Lays out the mutual intention to collaborate on a specific transaction while clearly stating the non-binding nature of the letter (with a few exceptions).
Key Terms
Summarises the parties involved, what the transaction entails, estimated contract value, deliverables, timelines, and payment structure.
Exclusivity and Due Diligence
Outlines a defined exclusivity period and expectations for each party to carry out proper due diligence.
Confidentiality and Costs
Protects the discussions and ensures each party pays their own costs during negotiation.
Governing Law
Specifies France as the governing legal framework for the LOI.
With Bind, you can instantly send and eSign your Letter of Intent, giving both parties a professional starting point and a clear signal of commitment—without locking into binding obligations too early.
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