Definition:
Letter of Intent (LOI)
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A letter of intent or LOI is a document that outlines an agreement between two or more parties before the agreement is finalized.LOIs may be used for asset purchase agreements, share purchase agreements, joint-ventures and other agreements that contemplate closing a large financial deal.
LOIs are usually not binding but may contain provisions that are binding, such as non-disclosure agreements, a covenant to negotiate in good faith, or a provision promising exclusive rights to negotiate.
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