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.

Please create a username to comment.

-ADS BY GOOGLE

File Extensions and File Formats

Powered by:

SearchCompliance

  • compliance audit

    A compliance audit is a comprehensive review of an organization's adherence to regulatory guidelines.

  • regulatory compliance

    Regulatory compliance is an organization's adherence to laws, regulations, guidelines and specifications relevant to its business...

  • Whistleblower Protection Act

    The Whistleblower Protection Act of 1989 is a law that protects federal government employees in the United States from ...

SearchSecurity

  • Malwarebytes software

    Malwarebytes is a cross-platform anti-malware program that detects and removes malware and other rogue software.

  • Transport Layer Security (TLS)

    Transport Layer Security (TLS) is a protocol that provides authentication, privacy, and data integrity between two communicating ...

  • van Eck phreaking

    Van Eck phreaking is a form of electronic eavesdropping that reverse engineers the electromagnetic fields (EM fields) produced by...

SearchHealthIT

SearchDisasterRecovery

  • cloud insurance

    Cloud insurance is any type of financial or data protection obtained by a cloud service provider. 

  • business continuity software

    Business continuity software is an application or suite designed to make business continuity planning/business continuity ...

  • business continuity policy

    Business continuity policy is the set of standards and guidelines an organization enforces to ensure resilience and proper risk ...

SearchStorage

  • solid-state storage

    Solid-state storage (SSS) is a type of computer storage media made from silicon microchips. SSS stores data electronically ...

  • persistent storage

    Persistent storage is any data storage device that retains data after power to that device is shut off. It is also sometimes ...

  • computational storage

    Computational storage is an information technology (IT) architecture in which data is processed at the storage device level to ...

Close