Document background
The Letter of Intent to Fund a Project is commonly used in England and Wales as a precursor to formal funding agreements. It serves to document preliminary understanding between parties and outline the proposed terms of funding while detailed negotiations continue. This document helps establish clear communication, demonstrates serious intent, and can be used to secure exclusivity periods. While primarily non-binding, certain provisions such as confidentiality and exclusivity may be explicitly made binding. The letter typically includes project details, proposed funding amount, key conditions, and timeline for completing the transaction.
