Letter of Intent-LOI or Letter of Understanding-LOU:
For larger contracts or big dollar supply agreements, some corporations prefer to start a relationship by issuing a letter of intent (LOI) to the successful bidder of a tender. In essence, it is an acknowledgement by both parties of their intent to carry out the offer at hand. As a buyer, you are informing the Vendor or Supplier of your intention to proceed with the commercial arrangement proposed in the bid and this is the start of the formal documentation process.
This following sample LOI can be used to get the ball rolling until formal contract documents are drawn up and executed by the involved parties.
This particular sample letter of intent or letter of understanding covers a technical supply agreement used to purchase bulk commodities with prices that might be tied to a published index or indice.
Feel free to download and use this free sample letter of intent or letter of understanding when awarding your RFP or RFQ.
Download PDF file here >>> RFQ6 – Letter of Intent
It is a little cramped as we wanted it to fit onto a single page…Note: all RFQPro.com purchased downloads include edit friendly Microsoft word templates. If you are looking for a specific sample Letter of Intent (LOI), or LOU template we have included them in our Premium Pack and it is available for purchase by selecting the download button in the margin.