This is the buyer’s preliminary offer. The letter of intent (LOI) spells out the basic elements of the transaction, most notably the offering price, terms and conditions, financing arrangements or contingencies, working capital considerations, and anticipated closing date. We assist buyers with the relevant deal points that must be addressed in the LOI to ensure there is no ambiguity in the offer. In this stage we present the offer(s) to our client and serve as an intermediary to negotiate an acceptable final offer. Our fiduciary responsibility is always to the client we are representing.