Define: Letter of Intent (LOI)

The meaning of “Letter of Intent (LOI)” differs based on where it is used. We list many below, then combine them into one or more market-standard definitions.

Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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What is the most popular definition of 'Letter of Intent (LOI)'?

Letter of Intent (LOI) means a written notification to a bidder, indicating acceptance of their offer and intention to commence agreed work.