GK
IMPORTANT ABBREVIATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Letter Of Inquiry
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Letter Of Intent
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Lack Of Investment
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Loss Of Investment
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Detailed explanation-1: -A letter of intent (LOI) is a document outlining the general plans of an agreement between two or more parties before a legal agreement is finalized. A letter of intent is not a contract and cannot be legally enforced; however, it signifies a serious commitment from one involved party to another.
Detailed explanation-2: -Letter of Intent (LOI) / Letter of Acceptance (LOA means the RVPN‟s letter conveying its acceptance of the Bid subject to such reservations / conditions as may be stated therein.
Detailed explanation-3: -No Contractual Obligations-The main purpose of an LoI is to enter into a legally non-binding document. The letter of intent is entered into and need not contain any specific contractual obligation. An LoI merely expresses an intention to enter into contact.