The Professional Letter of Intent is a critical business document used in the Nigerian commercial landscape when parties wish to formalize their preliminary intentions regarding a business transaction or relationship. It serves as a roadmap for future negotiations while documenting the initial understanding between parties. Typically employed before entering into more detailed agreements, this document outlines key commercial terms, timelines, and conditions precedent. While generally non-binding, certain provisions such as confidentiality and exclusivity may be specifically made binding. The document must align with Nigerian contract law principles and corporate regulations, particularly the Companies and Allied Matters Act (CAMA) 2020. It's especially valuable in complex transactions where detailed due diligence and negotiations are anticipated.

1. Letter Header: Full business details of the sender including company name, address, and date

2. Recipient Details: Full name, title, and address of the recipient

3. Subject Line: Clear statement of the letter's purpose (e.g., 'Letter of Intent - [Project/Transaction Name]')

4. Introduction: Brief introduction stating the purpose and context of the letter

5. Project/Transaction Overview: Concise description of the proposed business relationship or transaction

6. Key Terms: Outline of main commercial terms, including proposed financial terms if applicable

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

8. Non-Binding Statement: Clear statement that the letter is non-binding except for specific terms (if any)

9. Closing: Professional closing statement with next steps

10. Signature Block: Space for signature, name, and title of authorized representative