thinQmaster Virtual testing partner Adaptive practice exams that find your weak spots and drill them. Every answer explained. From $69
Enroll

thinQmaster

Find your exam

Five questions free, before you decide.

Step 1 · choose a vendor

In one of our camps? Your practice exams come with the tuition — they are on your study page already.

Project Management & Agile · Intermediate

Letter of Intent (LOI)

A non-binding document in which a buyer indicates the intent to award a contract.

Definition

An LOI allows a seller to begin preparation (such as hiring) before the final contract is signed, but it is generally not a legal contract.

Example

The buyer issues an LOI so the vendor can reserve resources while legal finalizes terms.

Exam tip

LOI is not a contract.

Related terms