1 Reply Latest reply on Aug 19, 2010 8:19 AM by Jens Brown

    LOI

    Ruth Siegel Newbie

      Do you utilize a Letter of Intent while negotiating a contract?  Do you consider the LOI to be binding?

        • Re: LOI
          Jens Brown Novice

          Ruth, In manufacturing I have seen binding-LOI with suppliers that had to prepare tool and die machines for an eventual contract. Naturally, the machinery investment had to be designed and in-place before the contract was effective. These LOI were binding to protect the suppliers sizable investment in customer specific tool and die machines.

           

          Best Regards,

           

          Jens G. Brown | Manager
          5130 North Central Avenue, Phoenix, AZ 85012. United States
          direct: 602.463.1555 main: 602.241.3300 fax: 602.241.3303
          email: jbrown@lecg.com

          http://www.lecg.com/bcs/

          LECG.JPG