How is Letter of Assurance defined in a legal contract?
- Letter of Assurance means a document, inclusive of any attachments, which declares the position of the submitter in regard to the ownership, enforcement, or licensing of Essential Patent Claims for a specifically pointed out standard, provided in a form that is acceptable to a certain [organization]. Seen in 30 SEC filings
- Letter of Assurance means a communication sent to another party in lieu of a bond or other surety, promising the recipient that the sender will fulfill its contractual obligations. Seen in 2 SEC filings
Please note: I have excluded the definitions which involves organizations or specific legal bodies. Thus, I ensured the universality of the definition to be used in various global circumstances.
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
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Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Letter of Assurance means a documented commitment, including attachments, stating a party's intent on ownership, enforcement, or licensing of specific claims.
Relevant Contract Types
Relevant Circumstances
- When one party wants to ensure the authenticity of claimed ownership and licensing.
- When there's a need to enforce specified claims.
Relevant Sectors
Genie Definition 2
- Letter of Assurance means a communication in lieu of bond, promising fulfillment of contractual obligations.
Relevant Contract Types
Relevant Circumstances
- When a contractor wants to ensure the completion of a project without a bond.
- When a supplier guarantees the supply of goods or services.
Relevant Sectors
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Letter of Assurance means a documented commitment, including attachments, stating a party's intent on ownership, enforcement, or licensing of specific claims.
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