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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 .
NLIs are typically faxed by the recruited student to the university's athletic department on a National Signing Day. [2] The NLI is a voluntary program with regard to both institutions and student-athletes. No prospective student-athlete or parent is required to sign the National Letter of Intent, and no institution is required to join the program.
J. William Davis was an American academic administrator who is known as the father of the National Letter of Intent for college athletics. Davis was chairman of Texas Tech University's Athletic Council from 1948 to 1969. He created a form, the National Letter of Intent, to prevent coaches from pulling recruits from other schools.
A letter of comfort, sometimes called a "letter of intent", is a communication from a party to a contract to the other party that indicates an initial willingness to enter into a contractual obligation absent the elements of a legally enforceable contract. The objective is to create a morally binding but not legally binding assurance.
Annually, the university concludes about 100 contracts, letters of intent, and agreements on cooperation with industry, central administration, and business environment institutions. Additionally, the AGH University implements about 1,000 research and development contracts annually, among which more than 75% are commissioned by industry.
Two years later, the letter of intent was also signed by representatives of the regional economic sector and by regional chambers of commerce. Finally, on 29 January 2003, the Slovene Parliament passed the University of Primorska Charter.
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