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A Bank Letter of Intent is a crucial preliminary document in Nigerian banking practice, typically used when a bank wishes to formally express its interest in providing financial services or entering into a specific banking transaction. The document serves as a bridge between initial discussions and final, binding agreements, providing a framework for further negotiation and due diligence. While non-binding, the Letter of Intent must comply with Nigerian banking regulations and Central Bank of Nigeria guidelines, offering enough detail to demonstrate serious intent while maintaining appropriate caveats and conditions. It's commonly used in contexts such as potential loan facilities, project financing, asset acquisition funding, or significant banking relationships, setting out key terms, conditions precedent, and the anticipated path to a formal agreement. The document is particularly important in Nigeria's dynamic business environment, where formal indications of banking support often play a crucial role in business planning and stakeholder negotiations.

1. Bank Details and Letterhead: Official bank letterhead including full legal name, registration number, and registered address

2. Date and Reference Number: Current date and unique reference number for tracking purposes

3. Recipient Details: Full name and address of the recipient organization/individual

4. Subject Line: Clear indication of the purpose of the letter (e.g., 'Letter of Intent - [Specific Transaction/Purpose]')

5. Introduction: Brief introduction identifying the bank and referencing any previous discussions or applications

6. Purpose Statement: Clear statement of the bank's intention and the specific transaction or arrangement being considered

7. Key Terms: Outline of the principal terms and conditions being considered

8. Conditions Precedent: List of conditions that need to be satisfied before any formal commitment

9. Non-Binding Nature: Clear statement that this is not a binding commitment and is subject to final documentation

10. Validity Period: Timeframe for which the letter of intent remains valid

11. Confidentiality Statement: Statement regarding the confidential nature of the letter and its contents

12. Closing and Signature: Formal closing, including authorized signatory details and bank seal