Sample Letter of Intent for Quotation

LETTER OF INTENT FOR PROCUREMENT QUOTATION (LOI-PQ)

Document Control

• Effective Date: [Insert Date]
• Version: 1.0
• Jurisdiction: [Insert Governing Law/State/Country]
• Document Ref: [Insert Internal Tracking ID]

LEGAL DISCLAIMER

This Letter of Intent (LOI) is intended to outline the preliminary intent of the parties to engage in a formal procurement process. Unless explicitly stated herein, this document is non-binding and does not constitute a final offer or a commitment to enter into a definitive agreement, save for the provisions regarding Confidentiality and Exclusivity, which shall remain legally enforceable upon execution.

1. PARTIES

This LOI is entered into by:

• [Prospective Buyer Name], a corporation organized under the laws of [State/Country], with its principal place of business at [Address] (“Buyer”).
• [Prospective Supplier Name], a corporation organized under the laws of [State/Country], with its principal place of business at [Address] (“Supplier”).

2. SCOPE OF QUOTATION

Buyer hereby requests that Supplier provide a formal quotation for the following goods/services:

• Description: [Detailed Technical Specifications / SOW]
• Volume/Quantity: [Specific units or scope]
• Delivery Timeline: [Requested Lead Time / Milestones]

3. QUOTATION REQUIREMENTS

Supplier shall submit a comprehensive quotation inclusive of:

1. Itemized Pricing: Unit costs, bulk discounts, and tax implications (DDP/FOB).
2. Compliance: Certification of adherence to [Industry Standards/ISO Codes].
3. Validity Period: The quotation must remain valid for a minimum of [Number] days from the date of issuance.
4. Payment Terms: Proposed terms (e.g., Net 30, Milestone-based).

4. CONFIDENTIALITY

The parties agree that all information exchanged during this procurement process (including pricing, technical data, and operational blueprints) constitutes "Proprietary Information." Both parties agree to maintain strict confidentiality and shall not disclose such information to third parties without prior written consent.

5. NON-BINDING NATURE

Except for Clause 4 (Confidentiality) and Clause 6 (Governing Law), this LOI serves as an expression of interest and does not obligate the Buyer to purchase or the Supplier to fulfill orders until a definitive Master Purchase Agreement (MPA) is executed by both parties.

6. GOVERNING LAW

This LOI shall be governed by and construed in accordance with the laws of [Jurisdiction]. Any disputes arising from the Confidentiality provisions herein shall be subject to the exclusive jurisdiction of the courts located in [County/City].

EXECUTION BLOCK

FOR BUYER: Signature: __________________________ Printed Name: [Name] Title: [Title] Date: [Date]

FOR SUPPLIER: Signature: __________________________ Printed Name: [Name] Title: [Title] Date: [Date]

EXECUTION & ENFORCEMENT GUIDE

1. Drafting: Populate all bracketed fields with clinical accuracy. Ensure the "Description" field in Section 2 is sufficiently granular to prevent "Scope Creep" or ambiguous pricing later.
2. Authorization: Ensure the signatory on the Supplier side has the corporate authority (C-Suite or Procurement Director) to bind the entity to the confidentiality terms.
3. Transmission: Transmit via encrypted email or secure document management portal. Retain a digital "audit trail" of the transmission as proof of receipt.
4. Conversion: Upon receipt of the quote, do not issue a Purchase Order until a formal Master Purchase Agreement (MPA) or Terms & Conditions (T&C) document has been signed to protect Buyer against liability and quality failures.