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Government Letter Of Intent
"I need a Government Letter of Intent for a potential IT infrastructure project with Oracle, expressing our department's intention to procure cloud services worth approximately £5M, with an exclusivity period until March 2025."
1. Identity of Parties: Clear identification of the government entity and the other party/parties
2. Project Description: Detailed description of the proposed project or arrangement
3. Non-Binding Nature: Clear statement that the LOI is non-binding except for specific clauses
4. Timeline: Expected timeframes for next steps and final agreement
5. Key Terms: Outline of principal commercial terms under consideration
1. Exclusivity: Used when parties agree not to negotiate with others for a specified period
2. Confidentiality: Used when sensitive information will be shared during negotiations
3. Cost Allocation: Used when specifying how preliminary costs will be shared
4. Break Fee: Used when parties want to specify compensation if negotiations fail
1. Initial Project Plan: High-level outline of proposed project stages and deliverables
2. Term Sheet: Summary of key commercial terms under consideration
3. Preliminary Budget: Initial cost estimates and financial projections
4. Authority Matrix: Details of required approvals and authorization levels
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