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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 .
Superannuation in Australia, or "super", is a savings system for workplace pensions in retirement.It involves money earned by an employee being placed into an investment fund to be made legally available to members upon retirement.
AustralianSuper is an Australian superannuation fund headquartered in Melbourne, Victoria.It is an industry super fund, and so operates through a mutual fund structure.. With over A$ 340 billion of retirement savings under management and more than 3.4 million members, AustralianSuper is the largest superannuation fund in Australia and the sixteenth largest pension fund in the world.
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.
Examples include: Wayne Swan (Chair of CBUS), Greg Combet (Chair of Industry Super Australia), and Paul Schroder (AustralianSuper). [5] [6] Members of the Liberal Party and aligned conservative political commentators have criticised the relationship. [7]
In September 2018, ISA arranged a deal by 19 industry super funds to consolidate superannuation accounts of all of their members. Involving half a million inactive accounts containing few funds, it is estimated that it may collectively save its members around A$100 million a year in what they would otherwise pay in fees and life insurance premiums.
The early signing period has arrived. Starting Wednesday morning, committed members of Ohio State football's 2024 recruiting class can sign and submit their national letters of intent to ...
For example, in property auction cases the auctioneers language should generally be constructed to be inviting bids, as opposed to offering the house. [24] According to the New South Wales Supreme Court case of AGC (Advances) Ltd v McWhirter , withdrawing a properties reserve price during an auction does not obligate the sale. [ 25 ]