.jpg)
The legal effect of a letter of intent depends on its form and content, therefore it is crucial that you involve the Legal & Regulatory Affairs Team before proceeding to arrange for Imperial to sign a letter of intent.
From time to time, Imperial is requested to provide a letter of intent. It may be requested by a third party lender or other financial institution, a real estate partner or another third party.
The term "letter of intent" does not have a specific legal meaning but it is used to describe a letter given by an entity, such as Imperial, to a third party, to provide a level of comfort as to certain deliverables or promises.
The purpose of a letter of intent is to indicate an intention to enter into a formal contract, or a formal provision, at a future date. A letter of intent can serve to provide some comfort to the third party as it relates to, for example, certain payments or similar obligations.