Letter of Intent (LoI) - Internal
A Letter of Intent (“LoI”) expresses the intentions of the parties to collaborate and to enter into binding agreements.
A LoI is generally used in the very beginning of the negotiations between the parties and will typically include key terms for the on-going collaboration and the purpose hereof. The content of the key terms will vary depending on the discussions that have taken place between the parties and the specific nature of the project. The key terms should always be carefully assessed and should set out the immediate contri-butions and actions by each party.
In some projects a LoI may be followed by the signing of a non-binding Memoran-dum of Understanding (“Mou”) that typically will set out the scope for the intended collaboration of the parties in more detail, including project deliveries, expected tim-ing and project organisation. However, depending on the project and how advanced the negotiations are between the parties a LoI may also be replaced by binding agreements (e.g. co-operation agreements or consortium agreements).
This template should be used taking into consideration that it should be adjusted to the specific project and the parties.
Download “Letter of Intent (LoI) - Internal” LoI-Internal.docx