The following TMT precedent provides comprehensive and up to date legal information covering:
Strictly private and confidential
To: [Insert legal name of customer organisation] (a company registered in [insert], with company registration number [insert] with its registered office at [the address below]) (you).
[Insert customer address]
Date: [insert date]
Subject to contract (EXCEPT AS EXPRESSLy STATED)
Dear [insert name]
Letter of intent regarding proposed outsourcing agreement
Further to the discussions between you and [insert legal name of supplier] ([Supplier]) on [insert date(s)] and subject to contract (except as expressly stated), this Letter of Intent (LOI) sets out the main commercial terms which have been provisionally agreed between our organisations (collectively, us or we) on the proposed outsourcing agreement (Proposed Agreement) relating to the provision of [insert details] services (Services).
We each agree that:
Duration and status
We intend to negotiate and (subject to agreement by each of us in our sole discretion) execute the Proposed Agreement no later than [90 days] from the date on which the last of us signs this LOI.
[This LOI (unless extended by both of us in writing prior to its expiry) shall automatically terminate on the earlier of:
[execution by the last of us of the Proposed Agreement]; or
the end of the period referred to in paragraph 1.1.]
Except for paragraphs [insert reference to each provision intended to be legally binding eg 3.2 and 4 to 11 (inclusive)] which are intended to be
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