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The Letter Of Intent For Business is a crucial preliminary document in Philippine business transactions, commonly used when parties wish to formalize their initial understanding before proceeding with detailed negotiations. It serves multiple purposes: documenting preliminary agreements, establishing negotiation frameworks, and demonstrating serious business intent. While primarily non-binding under Philippine law, certain provisions like confidentiality can be made explicitly binding. The document is particularly valuable in complex transactions such as mergers and acquisitions, joint ventures, or significant business partnerships where detailed due diligence and negotiations are anticipated. The Letter of Intent helps parties align their expectations early in the process while providing a structured approach to further negotiations, all within the context of Philippine commercial law and business practices.

1. Letter Header: Date, recipient's name, title, company name, and complete address

2. Subject Line: Clear indication that this is a Letter of Intent and brief description of the business purpose

3. Introduction: Identification of the parties involved and their authorized representatives

4. Business Context: Brief background of the parties and the purpose of the intended business relationship

5. Scope of Intent: Clear statement of the business intention and proposed transaction or relationship

6. Key Terms: Overview of fundamental business terms, including proposed financial terms if applicable

7. Timeline: Proposed schedule for negotiations and completion of the final agreement

8. Confidentiality Statement: Basic confidentiality provisions regarding the proposed transaction

9. Non-Binding Statement: Clear statement that the LOI is non-binding except for specified provisions

10. Closing and Signatures: Formal closing, signature blocks for authorized representatives of all parties