- Created: Friday, 14 October 2016 00:00
by Patrick B. Mathis, Shareholder at Mathis, Marifian and Richter, Ltd.
Letter of Intent
Once the parties have reached an agreement as to the essential terms of the transaction, whether orally or through a written term sheet or correspondence, in most cases the next step is a letter of intent, or LOI. While not as detailed as the final definitive agreement between the parties, the intent letter outlines the essential terms of the deal.