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Letter of Intent for Purchase of Services | Download Free Templates
Team Lawyered
1. What is a Letter of Intent for Purchase of Services ?
A letter of Intent is a document entered into between two parties intending to enter into any transaction with each other. This letter of Intent lays down the terms and conditions which will govern the existing arrangement between the parties until a formal agreement is made and executed. This letter of intent also lays down the basic framework for the formal agreement. This letter does not have any legally binding obligation.
2. Why is it important?
a. This agreement protects the parties at the preliminary/negotiation stage.
b. This helps in defining the rights and obligations of the parties entering into the contract.
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Sophie Asveld
February 14, 2019
Email is a crucial channel in any marketing mix, and never has this been truer than for today’s entrepreneur. Curious what to say.
Sophie Asveld
February 14, 2019
Email is a crucial channel in any marketing mix, and never has this been truer than for today’s entrepreneur. Curious what to say.