Document background
The Letter of Intent for Software Development is a crucial preliminary document used in the Indian technology sector when parties are preparing to enter into a software development arrangement but need to formalize their intentions before creating a comprehensive agreement. It serves as a roadmap for negotiations while protecting both parties' interests during the discussion phase. This document type is particularly relevant when complex software development projects require detailed negotiation and due diligence before finalizing a binding contract. It typically includes non-binding provisions regarding project scope and commercial terms, as well as binding elements such as confidentiality obligations, all structured within the framework of Indian contract law and IT regulations. The LOI helps establish clear expectations and demonstrates serious intent while providing flexibility for detailed negotiations.
