Both a letter of intent and a memorandum of understanding establish business agreements. Neither term has a strict definition, so they are sometimes used interchangeably.

Understanding a Letter of Intent (LOI) LOIs are useful when two parties are initially brought together to hammer out the broad strokes of a transaction before the finer points are resolved.

EzFill (EZFL) announces the execution of a term sheet with Shell Retail and Convenience Operations, a wholly owned subsidiary of Shell Oil Products US (SHEL). This agreement facilitates the ...