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The Letter Of Intent For Contract Renewal is a crucial business document used in Irish commercial practice when parties wish to formally communicate their intention to renew an existing contractual relationship. This document is particularly relevant when approaching the end of an existing contract term, where one or both parties wish to continue their business relationship but need to establish a framework for renewal negotiations. It typically includes references to the original contract, any proposed modifications to terms, and the intended timeline for finalizing the renewal. Under Irish law, while not fully binding, it can create certain enforceable obligations and is often used in various commercial contexts, from service agreements to employment contracts. The document serves as a bridge between the existing contract and its renewal, providing clarity and structure to the renewal process while maintaining professional relationships.

1. Letterhead and Date: Company letterhead, current date, and reference numbers if applicable

2. Recipient Details: Full name, title, and address of the recipient

3. Subject Line: Clear indication that this is a Letter of Intent for Contract Renewal

4. Opening Statement: Reference to the existing contract including original contract date and parties involved

5. Expression of Intent: Clear statement of intention to renew the existing contract

6. Current Contract Reference: Brief summary of the current contract's key terms and performance

7. Proposed Renewal Terms: Overview of the basic terms for renewal including duration

8. Timeline: Proposed timeline for finalizing the renewal process

9. Closing Statement: Statement of good faith and invitation to proceed with formal renewal

10. Signature Block: Space for authorized signatory details and signature