A Letter of Intent Form is a document that can be used to indicate one’s willingness to enter into negotiations with another party for a future agreement. It is prepared by the parties involved and outlines their basic understanding of the business relationship that they would like to pursue. It serves as an expression of intent, setting forth the proposed terms in a clear, concise form. By signing this document, both parties acknowledge their commitment to the process, signaling their mutual agreement on the potential terms of the final deal.