An important document created to initiate a business deal between two parties, the letter of intent is very similar to a Memorandum of Understanding (MoU).
Letter of intent is a document which presents details about a potential agreement between two parties before it is approved. Such an agreement can be anything from a Share Purchase Agreement, Asset Purchase Agreement to Joint Venture Agreement.
A letter of intent is also seen as declaration of the process of negotiation between two parties.
A letter of intent establishes terms and conditions and clarifies important points associated with a deal. If a deal collapses, this letter can act as a safeguard. Such letters are also referred to as a 'discussion sheets' because terms of agreement are discussed in them.
The letter of intent examples presented below give you a rough idea of how to create properly formatted documents. Of course, this is a generic format. According to your purpose, the details of the letter will differ.
The examples of different kinds of letters of intent used for business transactions, applying for a job, applying for a graduate program, etc., are given below.
The letters written for applying for a job are similar to cover letters sent by job seekers to their prospective employers. It is important that a job seeker explains concisely why he/she is suited for the job; documenting the letter properly should increase your chances of getting a job.
The format given below should be of help.
My name is [Sender's Name]. I recently graduated from [Name of College]. I came to know that your firm is looking for a [Position You are Applying for]. I think I am suited for this position. I believe that I would be a valuable addition to your firm. I have attached my CV and college transcript with this letter for your review. I look forward to hearing from you.
The letter of intent for making a purchase is a legal document which gives the reader an idea of the purchase to be made. Such a letter is exhaustive in nature since it provides details of the agreement. Terms and conditions related to the purchase need to be mentioned in the letter, preferably through a bulleted list. Such a letter can be either binding or non-binding in nature. The common features of such letters are confidentiality, commitment towards the deal and performance & time-bound deal.
This is just one of the letter of intent examples written for purchase. Format of such letters can differ for different types of business transactions.
This letter puts forth the terms and conditions of agreement between [Name of purchaser] and [Name of seller]. Until the terms and conditions are agreed upon by both parties, the letter would remain to be non-binding. Details of the agreement can be found in the list given below.
Sending a letter of intent is a way of showing your interest in applying for a graduate school program. Such a letter is written to the concerned person of the graduate school. The letter should include the profile of applicant, details of his/her academic record, information about extracurricular activities and reason for joining the institute. The applicant should be able to convince the reader as to how he/she is eligible for the course. Since the letter needs to be properly formatted and carefully drafted, one should take the necessary efforts to write it. Not every college requires a letter of intent to be sent by applicants. However, sending a letter can improve their chances of getting admitted to the college of first choice.
My name is [Sender's name]. At present, I am pursuing [course/program] at [Name of College]. I want to apply for [Name of the Course] in your institute. Apart from maintaining a good academic record, I have also participated in extracurricular activities. The [Name of Program] offered by your institute would allow me to work in my area of interest. Given the reputed faculty members and world-class research facilities offered by your institute, getting admitted to [Name of College] would be a dream come true. I am looking forward to hearing from you.
The letter of intent examples and relevant information pertaining to writing them which is presented above should help those who are looking to strike a business deal, intend to join a graduation program or those who are looking for a job.