Browse Definitions:
Definition

letter of intent

A letter of intent (LOI) is a document outlining the general plans of an agreement between two or more parties before a legal agreement is finalized.  

A letter of intent is not a contract and cannot be legally enforced; however, it signifies a serious commitment from one involved party to another. A LOI may be used to clarify a transaction before a full contract is drawn up, to officially declare a partnership or negotiation between two parties or to clarify a mutual understanding.

In the U.S, a LOI may also be known as a memorandum of understanding (MOU)

Read more:

Student athletes often sign a national letter of intent to commit to a top college

This was last updated in February 2011

Start the conversation

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.

-ADS BY GOOGLE

File Extensions and File Formats

Powered by:

SearchCompliance

  • risk map (risk heat map)

    A risk map, also known as a risk heat map, is a data visualization tool for communicating specific risks an organization faces.

  • internal audit (IA)

    An internal audit (IA) is an organizational initiative to monitor and analyze its own business operations in order to determine ...

  • pure risk (absolute risk)

    Pure risk, also called absolute risk, is a category of threat that is beyond human control and has only one possible outcome if ...

SearchSecurity

  • FIDO (Fast Identity Online)

    FIDO (Fast ID Online) is a set of technology-agnostic security specifications for strong authentication. FIDO is developed by the...

  • cryptanalysis

    Cryptanalysis is the study of ciphertext, ciphers and cryptosystems with the aim of understanding how they work and finding and ...

  • Trojan horse (computing)

    In computing, a Trojan horse is a program that appears harmless, but is, in fact, malicious.

SearchHealthIT

SearchDisasterRecovery

  • business continuity and disaster recovery (BCDR)

    Business continuity and disaster recovery (BCDR) are closely related practices that describe an organization's preparation for ...

  • business continuity plan (BCP)

    A business continuity plan (BCP) is a document that consists of the critical information an organization needs to continue ...

  • call tree

    A call tree -- sometimes referred to as a phone tree -- is a telecommunications chain for notifying specific individuals of an ...

SearchStorage

  • SSD TRIM

    SSD TRIM is an Advanced Technology Attachment (ATA) command that enables an operating system to inform a NAND flash solid-state ...

  • cloud storage service

    A cloud storage service is a business that maintains and manages its customers' data and makes that data accessible over a ...

  • cloud hosting

    Cloud hosting is the process of outsourcing an organization's computing and storage resources to a service provider that offers ...

SearchSolidStateStorage

  • hybrid hard disk drive (HDD)

    A hybrid hard disk drive is an electromechanical spinning hard disk that contains some amount of NAND Flash memory.

Close