Letter of Intent Template

What is a letter of intent?

While working in the professional field, you may have felt the need to use a "letter of intent" many times, but if you are asked what letter of intent is or what is the purpose of using it, will you be able to give a proper answer? Well, most of the newcomers entering into the world of business cannot make out how to use the letter of intent or how to make its structure. They find it quite difficult to make a proper structure of it. Therefore, to use this document for both personal and professional purposes, one should learn to use this in a proper way. Otherwise, it may cause a significant difficulty or embarrassment for creating a wrong structure. For better understanding, you can check out some letter intent examples online.In today’s age, a professional letter of intent template available online that guides people on how to write a letter of intent. Whether you are handling legal matters of your organization or writing a letter of intent to a graduation school, all you need is to download it from online and fill the blanks as per your requirements. Before you actually start writing a letter of intent, you should learn its definition, use and of course how to write. So, here we start with the definition first.

What is its significance in the professional world?

The letter of intent (LOI) is also known as an interim document that summarizes the important points of the professional document, application or a proposed deal. This letter cannot be regarded as the final letter of action. Still, it is considered an important legal document towards reaching the final goal with more detail information with new terms and clauses.However, if you find making the structure of LOI quite a troublesome task, you can get a number of letter of intent examples online along with proper samples from which you can learn a lot about LOI, and you can use these templates for various purposes.

Why this letter of intent is so important?

When you are all set to start a business, it is important that you must be aware of the use of various professional documents. Besides this, it is also highly important that you must take your each step firmly while signing an agreement or deal with any person or an organization. It seems quite easy to accomplish a deal on paper, but this may indulge you in trouble if major clauses or terms are not properly mentioned in the document especially when the deal is about to close. To resolve such critical parts of a professional dealing, a letter of intent plays an important role. It is also referred to as term sheets.This letter of intent is required in almost all fields, whether it is for school, legal business dealing or personal purposes.

What are the different types of letter of intent?

• Letter of intent for job
• Letter of intent for business dealings
• Letter of intent for graduate school
• Letter of intent for personal purposes

You can find all these forms of letter of intent template online. Just download them as per your requirement and fill the blank mentioning the purpose or the subject of the letter.

Key elements need to keep in mind for writing LOI of business?

For business LOI, one needs to take into account some key elements. Let’s have a look at them –

• Selling price and terms

While writing a business letter of intent, one should not forget to mention the terms, the amount of cash down and the security description a buyer needs to provide to the seller.

• Deadline

This point is worth mentioning in the document, where it should be clearly written how much time a buyer/a seller requires to accomplish the entire process. In the document, it should also be mentioned about a certain time period, allowing the other person to either accept or reject the letter of intent.

• Structure

Keep an appropriate structure of the document. How the selling price is going to be allocated for various elements and what the profit structure will be.

• Contingencies

The buying nature of a person depends on a number of key factors. For better understanding, let's cite an example here: A buyer will only show an interest if he or she finds the current legal document is easily transferable to the new owner. Besides this, his willingness also depends on diligence factor that shows everything mentioned about the business is entirely true.These are some important key points to keep in mind while writing an LOI for business. However, you can get a number of samples online from where you can get a clear idea about these business LOI elements.

Key points for writing a letter of intent for a job

LOI for a job also requires fulfilling certain criteria. Before you write a letter of intent for any job, you must know what you must include and what not. Here is a list of things which you must include in letter of intent for job –

• Mention the subject that states what the letter is about or its purpose.
• The name and contact information of the applicant should be mentioned
• The document must include the name of other persons or to whom the letter is concerned
• Mention the name of the organization, an important thing to mention in the agreement

These are some important factors to consider while writing a letter of intent for a job. However, a set of guidelines is also followed for writing a letter of intent for graduation school or job. Let’s have a look at the set of guidelines –

Guidelines need to follow for writing LOI for graduation school or job

• While writing a letter of intent, the name and contact information of the person to whom the letter is concerned should be mentioned in the document correctly. This is a key factor to consider. Don’t create an impersonal look of your letter by adding some unnecessary phrases like respected madam/ sir. This is because writing such kind of words may misdirect or rerouted the letter as it does not state exactly for whom the letter is written or who is going to read the letter. In order to follow a proper structure of letter of the intent, you can download ready made templates from online.
• Create an introductory paragraph, in the beginning, stating the purpose or the subject of the letter. The information should be written in such a manner that the person reading this letter gets an exact idea about the main purpose of the letter. You should also include your degree, achievements educational backgrounds, organizations and the like. Along with all this information, you should also include your strength and highlight them in such a manner so that the person reading this letter gets an overall idea about you.
• Include only the specific points in the document. Do not include any vague information as this may make the whole structure look quite confusing. Make sure that you specify the subject of the content clearly at the beginning with the proper clause, terms, and conditions.
• In the document, you should also mention your credentials. Don’t try to be too modest with your skills or credentials. Rather you must highlight them in a way so that it can catch the attention of the person reading the letter.
• At the conclusion part of the letter, you must show a request a response. It creates a good impression. Don’t just show a casual attitude in your style of writing. Rather you just portray a picture that you are intended to work with them.

These are just a few guidelines which one should take into account while writing a letter of intent either for a job or graduation school.

What are the purposes served by letter of intent?

We, all people, feel the need to create legal documents at least once in our lives; either it is for property issues, business purposes, admission to a graduation school or similar other reasons. The LOI is a much more personalized document that one may need to meet any emergency situation. To create a letter of intent on an urgent basis, just download it from online and fill the blanks the way you want.Now, let’s focus on the -reasons why people need a letter of intent

Reasons why do people need a letter of intent

• Letter of intent is the ultimate process for soothing the entire process of the legal document and thereby eliminating confusion or doubts that may result in loss of trust from one another.

To define this point in a more structured way, here you will get an example like for renting a commercial property; a legal document is required for settling the deal between a buyer and a seller. The document serves as a financial proof between both the parties that state how much money the seller will take from the buyer as an initial payment and how long will be the time period for a buyer to pay the rest of the amount.

• Another important function of a letter of intent is that it works as a checklist where you can easily keep all important legal points or documents which are required before purchasing assets. In fact, this document also includes clauses of any major legal document.
• A letter of intent helps people to identify the verge issues or the terms that may even break a deal before the negotiation phase starts.

After all these reasons and key points, now it is time to learn about how to write a letter of intent.

How to write a letter of intent?

As this letter of intent is used in different fields for a number of different reasons such as an application for a graduate school, job, business purposes and so on, the document serves an important purpose which cannot be overlooked. A successful letter of intent must be written in a professional manner and must look persuasive and defined. Besides these, the actual purpose of the letter should be clearly written.

Steps to follow for writing a letter of intent

• Read the instructions carefully before writing a letter of intent. All types of LOI have specific instructions and guidelines to follow that give them a proper structure. So, you need to review the instructions before starting to write.
• Mention the name and address of the person correctly to whom the letter is concerned. If you cannot exactly make out the name or address of the person or have doubts in mind, make a quick phone call to double sure the information you need.
• Write the things in such a way that it can be easily categorized on the following grounds such as past accomplishments, personal information, and achievements.
• As it has been already said, that an introductory paragraph is required at the beginning of the letter, it should be written in a way that you are introducing yourself.
• For writing a letter of intent for graduation school mention the name of the school or college, you have last attended along with the year.
• For writing letter of intent for business, mention the name of the field you are interested in and the name of the organization you have worked before.
• For writing a personal letter, mention the address and the name of the specific organization for which you are writing.
• Don’t make the letter lengthy with flowery languages. Start getting into specifics from the very beginning. This is something which will create a good impression on your letter.
• Once you are more or less done and finds that the first draft looks a bit haphazard, just take the important points from it and make a final draft.
• After covering all important points and instructions in a document, it’s time to proofread or edit your work to make sure the letter reads out the purpose or the subject clearly without any grammatical or spelling error and the letter makes a proper sense.
• When you are finally ready with your LOI including all important points and information, attach it with any other important documents or applications and submit.

However, if you find maintaining all these guidelines in a letter of intent a troublesome task, it is better to download it from online and fill the blanks with proper words. To get a more precise idea, you can also check out some samples and learn what to include and what not.

Additional points to keep in mind

• Keep the style of writing direct and to the point. Avoid flowery or unwanted sentences. Try to write in the active voice that will make your letter look more concise and precise.
• Always keep in mind that a letter of intent is also referred to as a letter of personal statement or letter of interest through you can establish your image.
• 12-font size is a standard measure. Stick to it. For writing format, you can use either Arial or Times New Roman.

Download letter of intent templates

A letter of intent can be considered as a legally binding document, used for a number of reasons, such as for writing a letter for graduation school, job or business deals. It is a way through by which one can add a personal statement or voice to a document. So, whenever, you feel the need of this legal document, just download it from online and fill the fields with required information.