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A letter of intent (LOI or LoI, or Letter of Intent) is a document outlining the understanding between two or more parties which they intend to formalize in a legally binding agreement. The concept is similar to a heads of agreement , term sheet or memorandum of understanding .
On May 20, 2017, U.S. President Donald Trump and Saudi Arabia's Salman bin Abdulaziz Al Saud signed a series of letters of intent for the Kingdom of Saudi Arabia to purchase arms from the United States totaling US$110 billion immediately, [1] and $350 billion over 10 years.
A set of heads of agreement, heads of terms, or letter of intent is a non-binding document outlining the main issues relevant to a tentative sale, partnership, or other agreement. [ 1 ] A heads of agreement document will only be enforceable when it is adopted into a parent contract and is subsequently agreed upon, unless otherwise stated.
Estonia and Latvia signed an agreement Monday with Germany to purchase a medium-range air defense missile system that opens the way for the two Baltic nations to join a common air defense system ...
"The scope of these letters of intent ranges from short-term joint procurement, through medium-term modernisation and upgrades, to long-term development of future capabilities," it said.
N2OFF, Inc. (NASDAQ:NITO) shares escalated premarket on Friday after the company signed a binding Letter of Intent with Solterra Brand Services Italy, a subsidiary of Solterra Ltd., for renewable ...
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