English Business

Letter of Intent

NYC, Inc.

123 Main Street

Sacramento, California, 91011

March 11, 2016

John Franklin

Project Manager

Star Company of West California

225 Nine Street

Sacramento, California, 91011

Dear John Franklin,

This is a Letter of Intent that proposes to outline the partnership you and I discussed on February 29, 2016. I do not consider the terms and conditions stated in this letter as binding and am open to negotiation.

We have agreed that we will enter into partnership for the purposes of starting a catering service. My main responsibility will be food preparation and purchasing, and your responsibility will be accounts and marketing. We will pay ourselves and our employees a suitable salary and split any profits after salaries 50-50. We are still negotiation the amount salaries.

We have also agreed to take out a Small Business Loan to cover the start-up expenses and will both be signatory for that loan. We have together created a business plan that clearly states our intentions for the short-terms as well as the next five years, and this plan has been approved by the bank.

I propose we meet in two weeks on March 25, 2016 at the office of Lady Diana as a lawyer to confirm the salaries and sign a contract of partnership. We can meet at a time of your convenience to discuss the points on which we have not yet agreed before we meet the lawyer. Please call me at 123-456-789 or contact me at NYC_Inc@gmail.com to set up a meeting. 

 

Sincerely,

Andrew White

Development Director






Reference 
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