Letter of intent | sample model

In the moments in which an agreement is going to be established between two people, it is necessary that there is still non-definitive document, which serves to show the interest of both parties. That's why the intention letter It may be just the document you need.

It is a document or letter that is used to be able to create an agreement that is not legally binding, being a sample of the commitment between both parties.

What are letters of intent?

The letter of intent is a document through which two persons (physical or legal) establish a prior agreement as a sign of intent to enter into a contract in the future.

It is normal for many people to confuse it with a contract, however, in reality we are talking about two documents that are very different, legally establishing a fixed commitment for a negotiation; while a letter of intent is only a sample of interest that can lead to a contract.

One of the most important aspects that you must take into account is that it is a non-binding document, since in reality no type of payment commitment is being contracted between the two parties, in addition to the fact that purchase clauses or other types of negotiation are not established either.

The structure of a letter of intent

We already mentioned that they are not documents that have legal weight, but in reality they can be seen as a preamble of a negotiation. So even though it's not legal, it is important that it is written correctly, speaking of the commitment of two parties to finalize a negotiation.

As usually happens with any formal letter, this one has to have important elements so that its wording is correct. The most important elements that must be taken into account are:

• Place and date: The first information that we must include in this letter is the place and the date from which it is being written. They are generally written aligned to the right margin.
• Addressee: it is written below the date and is aligned on the left margin, where the data of the person or company to whom the letter of intent is addressed must be added. When it is a natural person, their full name is written, while if it is a company, their data must be written.
• Body: the body of the letter has to be written in detail regardless of the intention expressed in it. That is, it can be an intention to sell, buy or for any reason that may lead to the writing of this type of letter. It is important to add all the data that is necessary, as well as the dates if they apply in the specific case.
• Signature: so that the letter can have the required formality, it is important that the sender signs it including his identification number or his name.

When to use the letter of intent?

It is a document that can be useful in different situations, among which we can highlight the following:

sales intent

The seller of a property has the option of signing a letter of intent on behalf of a prospective buyer to demonstrate his desire to sell the property to that specific buyer.

Purchase intent

The most common use given to this card is during purchase-sale negotiations. Where potential buyers can write a letter of intent to show their commitment and interest in acquiring the property that the seller is offering.

Here the objective is that it is generally to make a commitment in order to have enough time to carry out the purchase process without the good continuing for sale.

work intention

This type of letter can also be used when an employment negotiation is taking place, which can be signed by one or both parties in order to demonstrate the intention to establish an employment relationship once the appropriate conditions are presented. mutually.

Education

Actually, there are several educational procedures such as the granting of quotas or scholarships, so the letter of intent can also be used in these scenarios.

sample letter of intent

Now we are going to highlight an example so that you do not have any doubts about it:

Mexico City, September 15, 2021

Mrs. (YOUR NAME)
Subject: Purchase intention

Respected (YOUR NAME),
I hereby demonstrate my intention to purchase the 2007 Ford model KA car with the XXXXXX plates of your property for the amount of $XXXXX (XXXXXX).

I am delivering this letter to you in view of the fact that the money to be used for your purchase will come from the sale of a property in my name, whose contract will be signed in a few days.

I hope we can complete this sale without any problem, reaffirming my purchase intention.

Nothing to add,

(YOUR NAME)
ID XXXXXX
TIF XXXXXX

How to make a letter of intent?

So that you can avoid making mistakes when writing a letter of intent, we recommend that you take into account the following fundamental aspects:

identify people

In a letter of intent between two or more natural persons, it is really important to include all the data correctly. This means that they must identify themselves with their full name and identification number. When it is a legal person, such as a company or an institution, then it must be accompanied by its name and company name or identification number.

Clarify the intended transaction

The letters have to be as clear as possible when explaining the reason for the letter. That is to say, specify well whether it is an intention to sell, buy or otherwise.

Include an agreement date

As is often the case with these letters, it is important that they show the intention to do something, and it is important that the document include a deadline for the transaction or business to be carried out. Otherwise, then the intent will be removed.

Use numbers and letters to express amounts

If in the letter of intent they are going to express amounts, then the best thing to do to avoid any kind of confusion is to add both the numeric and letter figures. This can be of great help to avoid any kind of problem or doubt.

Physically signed

Currently almost everything can be done digitally, but this letter is not one. The letters of intent have to be printed so that they can be physically signed and thus a copy can be delivered to the interested parties.

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