66+ Letter of Intent Sample

What is a Letter of  Intent?

A letter of intent (LOI) is one of the important business documents used to create specific basic terms on which parties intend to take part in binding definitive agreements. This formal business document provides sufficient information on the terms and conditions of the commitment. This letter is commonly written during the negotiation process to verify terms and is then signed by all parties once these terms are reached in mutual agreement.

There are two types of letters of intent: a letter of intent as a binding interim contract and a letter of intent as a non-binding letter of comfort. Letters of intent are mostly used across many settings such as academic scholarship applications, real estate applications, and employment applications. These letters have some similarities with Memorandums of Understanding (MOU) or terms sheets but they differ in some aspects as the letters of intent are made in a letter format instead of bullet points or other kinds of formats.

Examples of Letters of Intent 

There are many different examples of letters of intent that you may use for some environments or purposes. Be informed about the basic components of these letters of intent so that you know what to write for a certain deal or matter.

Letter of Intent for Business Enterprise: A business enterprise letter of intent or a business offer letter is an example of a letter of intent used by business owners, managers, and other business professionals to explain a pre-contract commitment between two parties or business firms. It contains the format, terms, and conditions for both sides of the business enterprise agreement. In this way, they can accomplish their business deal and come to an agreement favorably. If you need to write and submit an LOI, it must be submitted with the bid or offer and must be signed by both parties. Indicate in your letter of intent these components: project name, project/solicitation number, name of the prime vendor, address, city, state, ZIP code, telephone, fax, email, name of certified BEP or VSB vendor, type of business agreement, and many others. Letter of Intent to Apply for Scholarship: This type of letter of intent is also known as a scholarship letter of intent or a statement of purpose where a student elaborates his or her future educational plans while he or she is in the university or after plus his or her academic background and other extracurricular activities to demonstrate that he or she is the most eligible for the scholarship opportunity. It is a beneficial letter to allow the students to express their personal motivation for selecting the specific course of study. If you are preparing this LOI, write about yourself that you believe would make the committee delighted. A letter of intent to apply for a scholarship contains different parts such as letterhead and various paragraphs for the introduction and academic goals, previous educational attainment, related work experience and skills, and future long-term and short-term goals. Some examples of scholarship letters of intent are letters of intent from parents, letters of intent for masters degree, and letter of intent for educational financial aid. Family Letter of Intent: A letter of intent for family court is another example of LOI that helps parents and guardians state who is responsible for raising their child after they died. Family letters of intent are useful documents in family court to verify the future caregiver for a child. When you write a family letter of intent, explain the purpose of your letter of intent, your family wealth background, your beliefs, hopes, and wishes for your heirs, your responsibility to yourself, your responsibility to your heirs, your responsibility to others, and your major objective. Letter of Intent to Continue to Provide Instruction:If you are an educator, a professor, or a teaching professional, this LOI is used along with a letter of instruction to show your intention as you offer academic instruction in the current academic year. Indicate in this letter your basic information, update the information concerning your students, and provide the name of accrediting organization and dates of accreditation term. Then, explain and attach documentation as required in the full report and update your instructor contact details. Complete the proposed annual achievement testing plan for the students changed and add the details of the students as well. Include your printed name and signature in this LOI. Employment Letter of Intent: Are you planning to apply for a new job? A letter of intent for employment explains the interest of the candidate when it comes to accepting a job offer from a company or employer. This type of letter differs to a cover letter because an employment letter of intent highlights on the employer instead on the role a person applied for.

How to Write a Letter of Intent

Craft a comprehensive letter of intent if you need to announce a business deal, outline the terms of a business deal, or give protection during a business deal. Follow the basic steps below so that you can write a letter of intent for personal and business use effectively.

Step 1: Apply the Correct Format and Choose a Sample Letter of Intent Template

Use a business letter format that contains both the contact information of the parties with the date added in the letter of intent. Identify the name of the recipient, select the best greeting, write the body, and add a professional closing. To make your work efficient and productive, simply search, choose, download, and use our sample letter templates including letter of intent. Sample.net provides a wide-variety of document and letter templates that you can use for your work.

Step 2: Be Clear and Concise and Proofread Well

Maintain clarity and conciseness while outlining the main purpose and objectives of the letter of intent in the subject line. Make it clear and quick to find. Be straightforward while you work on the drafting stage of your LOI to craft a direct to the point letter of intent. After you are done writing the content of your letter of intent, proofread your letter for spelling or grammar concerns. Ensure that the document looks clean and professional.

Step 3: Be Mindful and Respectful

Begin your letter of intent with a formal greeting rather than using informal greetings. Use ‘To Whom It May Concern’ for several parties if your letter of intent is made for format events or settings. Choose respectful terms to your reader and be mindful on your wording and how it may affect the readers’ impression.

FAQs

What are some examples of letters of intent?

Some examples of letters of intent are non-binding letters of intent, letters of intent to home school, letters of intent to apply, letters of intent information forms, family studies program for letters of intent, letters of intent to continue to provide instruction, letters of intent request for use, letters of intent transaction, letters of intent for business enterprise, letters of intent request for application, letters of intent to consortium agreement, financial letters of intent, third party contract letters of intent, letters of intent for the subcontractor, and letters of intent from the employer, and letters of intent for scholarships.

What is the format of a letter of intent?

A letter of intent is structured and written in a letter format and signed by one party.

What is the purpose of a letter of intent?

The purpose of a letter of intent is to provide the following details: a simple description of assets that will be added in the proposed transaction and the assets to be excluded, the purchase cost and good faith deposit, the exclusivity period during the deal between the proposed seller and the proposed buyer while negotiations of the definitive agreements and due diligence are ongoing, the due diligence period for the proposed buyer, uphold the confidentiality of the information by each party, the definitive agreement, the date for the execution and delivery of the definitive agreement, some additional important terms and conditions of the transaction, the allocation of expenses, the governing law, and the provisions of the letter of intent.

Who writes the letter of intent?

The broker for the selling or the buyer may draft and write the letter of intent.

What are the two types of letters of intent?

The two types of letters of intent are a letter of intent as a binding interim contract and a letter of intent as a non-binding letter of comfort.

Letters of intent such as business enterprise letters of intent, scholarship letters of intent, real estate letters of intent, and many other letters of intent are fantastic tools fgo explain agreements or commitments for business, education, employment, real estate, and other settings. If you are feeling stressed about what you will write in your letter of intent, consider following a format from our sample letter of intent templates. Sample.net offers a diverse and extensive collection of sample letter of intent templates and other letter samples that you can easily download and use such as sample contract termination letters, sample doctor appointment letters and a sample letter of recommendation for graduate school.