Letter of Intent (LOI) Drafting
Document that declares the **preliminary intention** to enter a business transaction, establishing initial terms and understanding.
Lawizer drafts LOIs tailored to your transaction, providing clear guidance on binding vs. non-binding clauses.
Why You Need a Formal Letter of Intent
An LOI is a cost-effective and efficient way to confirm mutual interest and agree on fundamental terms before investing time and resources into a complex, formal contract. It helps reduce misunderstandings.
Key Protections & Benefits
Establishes mutual understanding and preliminary terms
Reduces misunderstandings before formal contracts
Drafting LOIs tailored to your business transaction
Guidance on binding vs non-binding clauses
Pre-Requisites for Drafting
To draft the LOI, the following key transaction details are required:
Parties’ details, transaction outline, preliminary terms
Lawizer Deliverables
Drafting LOIs tailored to your business transaction
Guidance on binding vs non-binding clauses
Frequently Asked Questions
An LOI is a legal document that declares a preliminary intention to enter a business transaction or agreement.
An LOI can contain both binding and non-binding clauses. Lawizer provides guidance on which clauses should be binding (like confidentiality) and which should remain non-binding (like the final purchase price).
The LOI establishes mutual understanding on the principal terms, reducing the risk of major disagreements and misunderstandings before proceeding to the formal, complex contract.