"Buyer who is serious, ready and able to purchase [crude oil], will sign [an] LOI and all the necessary documents that protect the rights of the Brokers and proceed. There is nothing to lose in signing those documents. This is how it is usually done and this is how it should be."
Many newcomers to the world of international business are given confusing advice on the proper documents to use in their business. The Letter of intent / LOI is a document that many refer to, but actually is poorly understood. Without proper understanding of the document you might find yourself making mistakes in your business that will cause you great embarrassment.