Category: Letters of Intent

The Dotted Line: The seven sins

Before Valentine’s Day is upon us, let me act as your contract fairy godmother with a sprinkle of magic dust (aka sensible legal resources) help change your love/hate relationship with legal documents. Read the full edition here » If you want to use letters of intent successfully and avoid that

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Review Your Letter of Intent: What’s Missing?

How bad are letters of intent really? A real eye-opener activity, during my workshops, is to compare what is in a ‘standard’ letter of intent with what you’d expect to see in a proper construction contract. Letters of intent should be contracts, as the alternative is even worse – an

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Are You in a Hurry?

As David Chappell says: it is difficult to think of any other cause responsible for more difficulties and disputes in construction contracts than the employer being in a hurry Construction Contracts Q&A, 2011 There are 3 approaches to letters of intent: Follow the guidance from eg the RICS, CIOB and

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Lessons from Failure: Contract before Works

Which should come first: works or contract? Well you might expect me to say the contract but here’s why… The defective car park In 2001, two companies were trying to agree the terms for a long-term agreement on a variety of projects. One of those projects was in a hurry,

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Write Your Contract: In Just 500 Words

Many years ago, I sat in Ed’s diner at Euston Station (London) waiting for my train. I was chatting to my sister and she challenged me to write a contract in just 500 words. In a rash moment I agreed, and being a woman of my word, I had to

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Using Letters of Intent Successfully

To make letters of intent really work for you, you need a fast but fool-proof process. There are two critical stages: what you do before you send a letter of intent and what you do after. Before You Send It You should check whether the letter of intent you need

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When Letters of Intent Go Wrong: The Funder Perspective

On any construction project, there is likely to be a funder, who lends money to the client for the purposes of getting the development completed. The funder will assess the viability of a project based on factors including: size of the loan ie the amount of money the client needs

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Is It Ever OK To Use A Letter of Intent?

It’s not necessarily good or bad to use a letter of intent. Depending on who you believe, letters of intent may be considered ‘necessary evil’, a sign that the project has gone wrong, evidence of a defective contract strategy or a means to the right end. Despite the many clear

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When Letters of Intent Go Wrong: The Advisers’ Perspective

Letters of intent can be recommended in specific circumstances: in view of the perceived importance of achieving early completion and, specifically, early commencement of the works, it was acceptable to advise commencing [the project] under a letter of intent rather than waiting until a formal building contract could be executed.”

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Can You Avoid Letters of Intent?

Whether you can avoid a letter of intent depends on where you are in the contract process – are you at the stage of deciding your contract strategy or are you about to start the construction phase? It can either be a strategic or tactical decision… Strategic Using the contractor

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