Formal and official letters play an important role in the world of everyday business. There is a formal letter for a request, proposal, application, cancellation, and many others. Let us talk about ‘letter of intent’ today.
The letter of intent is a formal letter that a person writes to another person in due course of business. As a written communication, the letter of intent can be used as a valid document in the court of law.
Some of the important information that a letter of intent should capture while drafting is:
- Name, address, phone number, and email ID of both the parties
- Business name, company history, and nature of business of the person drafting the letter
- Factual purpose of the intent
- Clarification on the forecasted outcome in the near future (of the intent)
- Basic details of who the letter is drafted to(their business name, phone number, email ID, etc,.)
- Name, designation, company name, and date of the person requesting an intent
- Name and designation of the person to whom the letter of intent is directly addressed to
- Comprehensive reasoning of the intent (in totality)
- The letter of intent should also have a room for suggestions and opinions on the requested intent
- The language used in the letter of intent has to be politically correct, and easy-to-understand
- The letter should throw complete light on the plan of action, timelines, and prerequisites of the intent.
As mentioned earlier, the letter of intent can be used for various purposes. Although the format is generic, the intent or the nature of the intent will change according to your request or demand. Here is a generic format of the letter for you to download.