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The difference between the two is slight and mostly a matter of style: an LOI is typically written in letter form and focuses on the parties' intentions; a term sheet skips most of the formalities and lists deal terms in bullet-point or similar format. There is an implication that an LOI only refers to the final form.
The examples and perspective in this article deal primarily with the United Kingdom and New Zealand and do not represent a worldwide view of the subject. You may improve this article, discuss the issue on the talk page, or create a new article, as appropriate. (February 2017) (Learn how and when to remove this message)
The concept is similar to a heads of agreement, term sheet or memorandum of understanding. Merger and acquisition agreements, [ 1 ] joint venture agreements, real property lease agreements and several other categories of agreements often make use of a letter of intent.
When I took over Term Sheet at the end of 2021, it was nearly impossible to keep up with all the IPO filings. As I step away, here I am documenting a trail of unicorn companies that have shut down.
A term is given on its own line using the {} template, and is automatically boldfaced. A definition is next given on its own line using the {} template, and follows either the term or a previous definition. Do not make individual terms in a template-structured glossary into headings. Doing so will produce garbled output.
The template {} is used in template-structured glossaries to create terms to be defined, that are properly structured, have semantic value, and can be linked to as if independent sections. It is a wrapper for <dt>...</dt>, the description list term HTML element. The template has a mnemonic redirect at {}. Basic usage: