A Letter of Intent RFP is commonly used in commercial transactions governed by English and Welsh law when organizations seek to formalize their intention to engage in a structured procurement process. This document typically precedes the full RFP process and serves multiple purposes: it demonstrates serious intent, outlines basic terms and conditions, establishes confidentiality requirements, and may include exclusivity provisions. The Letter of Intent RFP helps manage expectations and provides a framework for the subsequent detailed proposal process, while typically maintaining flexibility for both parties to withdraw if necessary.
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1. Sender Details: Full company name, address, and contact information of the party issuing the Letter of Intent
2. Recipient Details: Full company name, address, and contact person of the party receiving the Letter of Intent
3. Date: Date of the Letter of Intent
4. Project Description: Clear outline of the project or opportunity being considered, including scope and objectives
5. RFP Process: Overview of the RFP process, including key stages and requirements
6. Timeline: Key dates and deadlines for the RFP process, including submission deadlines
7. Confidentiality: Terms regarding the handling and protection of confidential information shared during the RFP process
8. Non-Binding Nature: Clear statement that the Letter of Intent is non-binding except for specific provisions
9. Signature Block: Space for authorized representatives to sign and date the document
1. Exclusivity Period: Used when parties agree to negotiate exclusively for a specified period during the RFP process
2. Cost Allocation: Used when parties need to specify who bears the costs during the RFP process
3. Break Fee: Used when compensation is required if either party withdraws from the process
4. Intellectual Property: Used when IP rights need to be protected during the RFP process
5. Governing Law: Optional statement specifying jurisdiction and applicable law if not clear from context
1. RFP Timeline Schedule: Detailed breakdown of key dates, milestones, and deadlines for the RFP process
2. Project Scope Overview: Initial high-level description of project requirements and specifications
3. Contact Matrix: List of key contacts from both parties involved in the RFP process
4. Non-Disclosure Agreement: Standard form NDA to be executed if separate confidentiality agreement is required
5. Evaluation Criteria: Overview of how proposals will be evaluated and scored
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