A Letter of Responsibility is an official document that outlines the duties and obligations of two or more parties engaging in a business venture. It serves as a formal agreement between the parties, outlining their individual roles and responsibilities within the project and how potential risks will be addressed. The letter is typically signed off by a representative from each party and can be used to reassure clients of the professionalism and commitment expected from all parties involved in the project. A Letter of Responsibility sets clear expectations for everyone involved and helps ensure projects progress according to plan.