Letters of intent are formal business letters that are exchanged between two parties to finalize on some mutually agreed terms. The idea of writing such a letter is to initiate the process of any business or transaction by one party to the other. While letters of intent are not binding on either of the parties, it is best to agree or reply to them only after thoroughly reading its contents and understanding it. As letters of intent are used as the first source of initiating a process of business relationship between two parties they should be well written and with extreme care. Some of the points that need to be remembered while writing letters of intent are enumerated as under:-
- Before writing a letter of intent one should identify the name of the person and designation to whom the letter needs to be addressed along with correct company name.
- As most of the letters of intent are meant for initiation of business propositions they should be written in an organized and professional manner.
- One should ensure to double check the letter for any spelling mistakes or grammatical errors before sending it out.
- The letter of intent should be written in a brief manner by expressing the main purpose of the letter and not make it too drab.