LOI


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LOI

(materials)
References in periodicals archive ?
a non-binding LOI (also known as a comfort letter) which gives comfort to a contractor that it is likely to be formally appointed to a scope of work - the employer assumes no liability under the LOI which may be adequate to encourage the contractor to start limited works (often internal design) while a formal contract is agreed and executed.
One of the key issues is whether the LOI will be replaced by a formal contract, especially where the LOI will expire on a specified date or upon reaching a maximum value of work.
The LOI can make clear that confidentiality is binding and survives termination of the LOI, and both parties should decide up front when and how to disclose the transaction.
A new LOI method has been developed that uses a microwave muffle furnace and crucibles to obtain combustion.