Declaration of intent

Also letter of intent (LoI) or memorandum of understanding (MoU). Declaration confirming the intent of one or more parties to enter into an agreement or carry out a more complex transaction. The declaration of intent is intended to be non-binding and to not obligate the parties to actually enter into an agreement or carry out a transaction. Declarations of intent normally contain clauses relating to exclusion of liability in the event that the agreement or the transaction does not come about, as well as relating to the confidentiality of information disclosed by the parties in connection with contract negotiations.