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Letter Of Intent Sample Business Format

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The LOI as it is now used is a misunderstood application of poorly informed brokers and traders. A more proper application based on established custom and practice in International trade, going back even to the old medieval "Law Merchant" (Lex Mercantilis) is: Buyer requests a quotation _ in modern usage this is an RFQ/Request For Quotation _ NOT an LOI. Seller may then reply with a Quote. Buyer confirms receipt of quoted prices, and requests an Offer.

So let's look at a few misconceptions. Often in understanding International Business you have to unlearn many things first, much of the information out there particularly is inaccurate or worse dangerously ambiguous.

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