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A letter of intent (LOI or LoI, or Letter of Intent) is a document outlining the understanding between two or more parties which they intend to formalize in a legally binding agreement. The concept is similar to a heads of agreement , term sheet or memorandum of understanding .
A sales letter is a piece of direct mail which is designed to persuade the reader to purchase a particular product or service in the absence of a salesman or saleswoman . It has been defined as "A form of direct mail in which an advertiser sends a letter to a potential customer."
A Letter of Understanding (LOU) is a formal text that sums up the terms of an undertakings of a contract which may have been negotiated up to this point only in spoken form or otherwise informally. It reviews the terms of an agreement for a service, a project or a deal and is often written as a step before a more detailed contract is issued. [1]
A letter of comfort, sometimes called a "letter of intent", is a communication from a party to a contract to the other party that indicates an initial willingness to enter into a contractual obligation absent the elements of a legally enforceable contract. The objective is to create a morally binding but not legally binding assurance.
In business, an MoU is typically a legally non-binding agreement between two (or more) parties, outlining terms and details of a mutual understanding or agreement, noting each party's requirements and responsibilities—but without establishing a formal, legally enforceable contract (though an MoU is often a first step towards the development of a formal contract).
Unsolicited proposals are generic marketing brochures used to introduce a product or service to a prospective customer. They are often used as "leave-behinds" at the end of initial meetings with or customers or "give-aways" at trade shows or other public meetings. They are not designed to close a sale, just introduce the possibility of a sale. [5]
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