They say detailed LOIs save time on deals. What details are important?
February 23, 2020
by a searcher from The University of Chicago - Booth School of Business in Milwaukee, WI, USA
Searchfunders - So I'm close to offering up the first LOI of my search. I commonly hear people say that spending the time on a detailed LOI saves time, headache and money later in the process when negotiating definitive documents. To date, I have not engaged a lawyer. I'm doing a self-funded geographic search so am using the carrot of getting my business to help me with networking / sourcing in my geography (TBD on if that works). So here are my two main topics.
First - For all the discussion that a detailed LOI saves time and headache, what are sections you included in your LOI that you thought really helped?
Second - My shameless ask...anybody willing to share their template LOI with me? I have an M&A background, so know enough to be dangerous, but need a starting point to modify. I know its a big ask, so no problem if not (comments on first question would be huge though). If so, email is redacted
Thanks!
from University of Pennsylvania in Dubai - United Arab Emirates
from Boston University in Boston, MA, USA
https://www.gsb.stanford.edu/faculty-research/centers-initiatives/ces/research/search-funds/primer