Letter of Intent

Jump to Section

Need help with a Letter of Intent?

CREATE A FREE PROJECT POSTING
Post Project Now

What Is a Letter of Intent?

A letter of intent is a formal letter that expresses your intentions to do something, such as apply for an educational program or job or make a purchase. It could also be used to clarify specific points in a business transaction. A job candidate might send a letter of intent to a business if they wanted to work for the company, but there wasn't a specific job they were applying for. The candidate might submit a letter of intent along with a general application.

The letter of intent shows interest in the other party and deals with them in a respectful and professional manner. It states your intentions without actually entering into an agreement regarding the business arrangement. When a letter of intent is used between businesses, it allows the individual parties to define their relationships and their future plans without involving lawyers and generating significant legal costs. Though the document isn't legally binding, it is a show of good faith.

Other Names for a Letter of Intent

A letter of intent is sometimes referred to as a:

  • Terms sheet
  • Framework letter
  • Letter of interest
  • Intent to purchase letter
  • Assurance letter

Types of Letter of Intent

Here are a few specific examples of different types of letters of intent:

  • Purchase of real estate, business, or general property: You can use a letter of intent to state your intention to purchase commercial or residential property or a business. The letter should specifically state that it isn't an official purchase agreement and that the terms and conditions of the business transaction are to be stated in the actual purchase agreement that must be agreed upon by all relevant parties.
  • Scholarship acceptance: A student could send a letter of intent to an institution or organization when accepting a scholarship. The letter should express appreciation for the scholarship and excitement for the opportunity.
  • Graduate school: If you intend to submit an application to attend a specific graduate school, you could send a letter of intent to that university. Some schools may even require a letter of intent as part of their application process. The letter should let the recipient know that you've submitted your application and list the graduate program for which you're applying.
  • Acquisition: This type of letter of intent is similar to the one that you would use when purchasing a business. However, it should be marked as confidential. As a sender, you may want to include the basic terms of the deal in addition to a nonbinding statement about the preparation of the agreement and procedures for negotiation.
  • Employment: You could send a letter of intent to express interest in working for a company, even if there isn't a specific opening available. The letter can state the type of position you're interested in or whether you're looking for an opening in a particular department.

Letter of Intent Templates

Purchase and download fillable PDF templates that match your Letter of Intent needs.
General LOI
Used for general letter of intent purposes.
Business Purchase LOI
Used for potential business purchase purposes.
Asset Purchase LOI
Used for potential asset purchase purposes.
Business Relationship LOI
Used for potential business relationship purposes.
Real Estate LOI
Used for potential real estate purchase purposes.
Employment LOI
Used for potential employment purposes.
*By purchasing a template, you acknowledge that you have read and understood ContractsCounsel's Terms of Use.

Letter of Intent vs. Cover Letter

Admittedly, letters of intent can be similar to cover letters when used for the purpose of finding a job. However, there are some differences. A letter of intent:

  • Is more focused on the company than a specific role
  • Speaks in more general terms about the candidate's skill set

Cover letters, on the other hand, tend to be

  • Focused on the specific job
  • Discuss the candidate's skills as they relate to that job

How to Write a Letter of Intent

Here are the basic steps you should follow to write a general letter of intent that could be used to clear an intent to purchase or to plan a business arrangement:

  1. Determine the name of the recipient: While there may be situations where you need to include a general greeting, like if you're sending the letter to multiple people, in most cases, it's best to send your letter of intent to a specific individual. This will increase the likelihood that the letter will reach the right person.
  2. Choose the best greeting: The most common greeting is "Dear Mr./Ms. Last Name." If the person you're sending the letter to has a professional title, such as Professor or Dr., you should use that instead.
  3. Write the body : This part of the letter will vary depending on the purpose of your letter of intent. In general, the first paragraph should state the purpose of your letter. If you're purchasing real estate or a business, you should state the terms that are proposed for the purchase. If you're expressing interest in working for a company, you should highlight the qualifications that would make you ideally suited for a job at the company. If you're sending a letter of intent to accept a scholarship, you should express your appreciation and enthusiasm in an appropriate, professional manner.
  4. Include a professional closing: Always use a professional closing. "Sincerely" or "Yours truly" often work well. Write or type your name under the closing.

Tips for Writing a Letter of Intent

Here are some tips you can use to help you write a letter of intent:

  • Use an appropriate format: Use a business letter format that includes both parties' contact information and the date the letter is created.
  • Include a clear subject line: If you're sending your letter via email, include a concise subject line that states the purpose of the letter. If you're sending the letter in this way, you don't need to include contact information at the top of the letter for both parties. You can place your contact information under the signature at the bottom.
  • Proofread carefully: Read the letter of intent closely to look for typos and grammatical errors.
  • Use a professional greeting: Try to send the letter to someone specifically and greet them in a professional manner. If the letter is being sent to several people, you can use a general greeting like, "To whom it may concern."
  • Use short paragraphs: You should keep your letter brief with short paragraphs to increase the likelihood that the recipient will read the letter in full. This is particularly true if you're sending a letter of intent expressing your interest in a job at a company.
  • Research the company: if you're writing a letter of intent to apply for a job at a company, research the company in advance to better understand its mission and culture. This can help give you a sense of how you could potentially add value.
  • Use bullet points: Consider using bullets to highlight your qualifications for a job or key points you want to emphasize in a business deal. Bullets will help to draw attention to this information and ensure it isn't overlooked when the recipient scans the letter.
  • Keep your letter short: Your letter of intent should never be longer than one page.

Letter of Intent Templates

If you need help drafting a letter of intent, Contracts Counsel has a team of fully vetted lawyers who have worked in over 30 different industries. They can also help you negotiate or review contracts to make sure you're legally protected during any business deal. Contact us today to get started.

How ContractsCounsel Works
Hiring a lawyer on ContractsCounsel is easy, transparent and affordable.
1. Post a Free Project
Complete our 4-step process to provide info on what you need done.
2. Get Bids to Review
Receive flat-fee bids from lawyers in our marketplace to compare.
3. Start Your Project
Securely pay to start working with the lawyer you select.

Meet some of our Letter of Intent Lawyers

ContractsCounsel verified
Managing Member
23 years practicing
Free Consultation

Drew is an entrepreneurial business attorney with over twenty years of corporate, compliance and litigation experience. Drew currently has his own firm where he focuses on providing outsourced general counsel and compliance services (including mergers & acquisitions, collections, capital raising, real estate, business litigation, commercial contracts and employment matters). Drew has deep experience counseling clients in healthcare, medical device, pharmaceuticals, information technology, manufacturing, and services.

ContractsCounsel verified
Managing Attorney
8 years practicing
Free Consultation

Daniel is an experienced corporate attorney and works closely with corporations, privately held companies, high-net worth individuals, family offices, start-ups and entrepreneurs. Daniel graduated from the Gonzaga University School of Law and is licensed to practice law in Illinois.

ContractsCounsel verified
Trademark Attorney
7 years practicing
Free Consultation

I'm an experienced trademark attorney and enjoy helping clients protect and grow their brand names through trademark registration and enforcement. I've worked with a wide variety of clients in different industries, including e-commerce, software as a service (SaaS), and consumer goods, to register trademarks for product names, logos, and slogans, both in the US and abroad.

ContractsCounsel verified
Legal Counsel
12 years practicing
Free Consultation

12 Year PQE Lawyer with wide experience in sports, media and tech.

ContractsCounsel verified
Owner
4 years practicing
Free Consultation

I am an entrepreneurial lawyer in the Seattle area dedicated to helping clients build and plan for the future. I graduated from the University of Chicago Law School and worked in a top global law firm. Now I help real people and businesses get where they want to go. Reach out to discuss how we can work together! Some of the areas of law I work in: Small Businesses, Trusts & Estates & Wills, Tax Law (for individuals, businesses, and nonprofits), Land Use, Environmental Law, Nonprofits

ContractsCounsel verified
Business Attorney
14 years practicing
Free Consultation

Results oriented business attorney focusing on the health care sector. Formerly worked in Biglaw doing large multi-million dollar mergers and acquisitions, financing, and outside corporate counsel. I brought my skillset to the small firm market, provide the highest level of professionalism and sophistication to smaller and startup companies.

ContractsCounsel verified
Associate
14 years practicing
Free Consultation

Attorney - I graduated in Law from the University of Wroclaw and in Economics from the Scottish University of Aberdeen; My legal interests include, in particular: contracts, intellectual property, and corporate law, as well as transactional / regulatory advisory along with related risk management (M&A); The industries with which I have worked most often are: IT, real estate and construction, professional sport, industrial chemistry and medicine, oil & gas, energy, and financial services; I possess many years of experiences working with international entities for which I have prepared and negotiated contracts, as well as (due diligence) reports, analyses, litigation documents, and presentations; Apart from law firms, I have also worked for investment banks and big 4 - thanks to that I also gained financial, technological, and consulting experiences; I shall be described by: accuracy, openness, honesty, concreteness, a broad approach to the problem, and ... a lack of bad manners, along with a good sense of humour :)

Find the best lawyer for your project

Browse Lawyers Now

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call