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Letter Of Intent 2
Times New Roman;LETTER OF INTENT #2
[Date]
[Date]
[First Name of Recipient] [Last Name of Recipient]
[Company's Name of Recipient]
[Address of Recipient]
[City of Recipient], [State of Recipient]
[Zip Code of Recipient]
Dear [Mr./Mrs.] [Last Name of Recipient]:
This has reference to our recent conversations with respect to the possible purchase by [Name of Purchaser] of approximately [Percentage] percent of its requirements of [Percent of Requirement] from your company during [Beginning Date] through [Ending Date].
Although we have been preliminary discussing the purchase of these products, no solid commitment has been made, and it appears that it will be some time before a definite decision will be made. You have advised that you must immediately place orders for certain machinery in order for you to meet the necessary production timetable and that cancellation charges may be required in the event such orders are canceled.
This letter is to advise you that in the event we decide not to purchase these items from your company for reasons other than the failure of your company to i) accept our standard purchase order terms and conditions (copy attached) or, ii) quote price and delivery terms acceptable to us for such items, and, as a result, you are forced to pay cancellation charges to your suppliers to cancel the aforementioned orders for machinery, we will reimburse you for any such unavoidable charges up to $ <Amount>. Any claims by you for reimbursement will be subject to audit by our personnel.
Please note, however, that this letter does not constitute a contract for the purchase of [Name of Item] or for the machinery and equipment you are ordering. Except as is specifically provided for in the preceding paragraph, we are not obligated to you in any manner whatsoever, and any other expenditures which you make will be at your risk.
Please indicate your acceptance and agreement to the understanding set forth in this letter by executing and returning to me the duplicate copy which I have enclosed.
Very Truly Yours,
ACCEPTED AND AGREED TO;
By:
Title:
Date: