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Microsoft Word - Access-Reuse_Addendum.doc: Author: Jennifer Heffelfinger: Software used: Word: Conversion program: Mac OS X 10.4.9 Quartz PDFContext: Encrypted: no: Page size: 612 x 792 pts (letter) Version of PDF format: 1.3
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.
For example, an addendum might be added to a contract to change a date or add details as to delivery of goods or pricing. The addendum should be referenced in the contract, or the contract should be referenced in the addendum, so that it is clear which contract the addendum is modifying.
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Data requirements can also be identified in the contract via special contract clauses (e.g., DFARS), which define special data provisions such as rights in data, warranty, etc. SOW guidance of MIL-HDBK-245D describes the desired relationship: "Work requirements should be specified in the SOW, and all data requirements for delivery, format, and ...
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