Get What You Want & Not What Others Want to Offer
The letter of intent also an important document featuring outline of an agreement between two or more parties involved in agreement. Following is an example of LOI for an aircraft industry.
A Letter of Intent should cover the following:
• Contain a description of exactly what is being purchased. This should include the make, model, any serial numbers, status of maintenance, and the condition of the aircraft.
• Set the purchase price of the aircraft.
• Establish what kind of deposit is necessary for the aircraft purchase, who will hold this deposit, and what the terms will be if it is forfeited. Also, it’s important to outline who will pay the agent’s escrow fees.
• Lay out the pre-purchase aircraft inspection that includes the allocation of costs and acceptance criteria. Be sure to include details about the location of the inspection facility, the scope of the inspection, including information about test flights, timing, and who pays for the inspection and the actual movement of the aircraft to the inspection facility. In addition, you will also need to establish the parties’ rights and obligations in the event of a successful or unsuccessful inspection.
• Agree to negotiate and enter into a definitive purchase agreement within a specified amount of time.
Hence businessmen leverage this agreement up to a certain extent; because after signing the LOI means giving almost more than 80% of the power in their hands. When your leverage depreciates you are left with no option other than accepting what is available to you. Hence the letter of intent being important which shouldn’t be neglected and later facing the consequences; paying prior attention is necessary. Things that should be done to avoid facing worst situations later are as follows;
Successor Clause[/b][/b]
The agreement done between two parties should also contain successors so that even if there is any change in the ownership; and if there are any changes to be made can be done easily.
Customers as reference [/b][/b]
A group of people who are your customers and are loyal towards you should be created to act as their reference thus depicting their worth & creditability.
Risk Unclosed[/b][/b]
There are risks involved everywhere; and when viewed an org. risks are many and not mentionable. Hence risk coverage should also be taken into consideration, as well as its disclosure of the same in the front is much better than backstabbing.
Respect[/b]
When conveying your message to others or discussing things and clarifying the doubts one must not insult others and respect others in their opinions and views.
Hence taking into consideration all the above points the value of your business can be safeguarded.
The letter of intent also an important document featuring outline of an agreement between two or more parties involved in agreement. Following is an example of LOI for an aircraft industry.
A Letter of Intent should cover the following:
• Contain a description of exactly what is being purchased. This should include the make, model, any serial numbers, status of maintenance, and the condition of the aircraft.
• Set the purchase price of the aircraft.
• Establish what kind of deposit is necessary for the aircraft purchase, who will hold this deposit, and what the terms will be if it is forfeited. Also, it’s important to outline who will pay the agent’s escrow fees.
• Lay out the pre-purchase aircraft inspection that includes the allocation of costs and acceptance criteria. Be sure to include details about the location of the inspection facility, the scope of the inspection, including information about test flights, timing, and who pays for the inspection and the actual movement of the aircraft to the inspection facility. In addition, you will also need to establish the parties’ rights and obligations in the event of a successful or unsuccessful inspection.
• Agree to negotiate and enter into a definitive purchase agreement within a specified amount of time.
Hence businessmen leverage this agreement up to a certain extent; because after signing the LOI means giving almost more than 80% of the power in their hands. When your leverage depreciates you are left with no option other than accepting what is available to you. Hence the letter of intent being important which shouldn’t be neglected and later facing the consequences; paying prior attention is necessary. Things that should be done to avoid facing worst situations later are as follows;
Successor Clause[/b][/b]
The agreement done between two parties should also contain successors so that even if there is any change in the ownership; and if there are any changes to be made can be done easily.
Customers as reference [/b][/b]
A group of people who are your customers and are loyal towards you should be created to act as their reference thus depicting their worth & creditability.
Risk Unclosed[/b][/b]
There are risks involved everywhere; and when viewed an org. risks are many and not mentionable. Hence risk coverage should also be taken into consideration, as well as its disclosure of the same in the front is much better than backstabbing.
Respect[/b]
When conveying your message to others or discussing things and clarifying the doubts one must not insult others and respect others in their opinions and views.
Hence taking into consideration all the above points the value of your business can be safeguarded.