Letter of Intent for International Joint Venture Contract

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This Letter of Intent is used to set objectives and define the most important issues between the Parties prior to the signing of an international joint venture contract. It also serves to assess the interest of the Parties to reach agreement and to take account of developments that have taken place during negotiations.

Either Party can write this Letter of Intent, although usually is the Party that has taken the initiative in the negotiation process. This is a non-binding document, except in regard to confidentiality during negotiations.