Letter of Intent Information

Once a buyer and seller have signed an NDA they may communicate directly about the potential sale of the practice.

Once the buyer indicates that they would like to purchase the practice, the seller sends a Letter of Intent (LOI) to the buyer.

Seller

Here is a representation of the LOI that is sent, by the seller, to the buyer: View LOI

The three yellow fields are filled with the values input by the seller in the three fields of the same name in the LOI Generator tool. The fourth field that the seller selects is the name (and email address) of the buyer. Once all four of these fields are input the seller may send the LOI to the buyer.

Buyer

When the buyer receives the LOI they are given two options:

• Accept the terms laid out in the LOI
• Ask to negotiate the terms

If the buyer accepts the terms, they sign the LOI.

If the buyer indicates that they which to negotiate:

Seller and Buyer

• the buyer and seller communicate directly and negotiate the terms

• the seller updates the LOI Generator tool with the new value(s) and re-sends the updated LOI

• the buyer signs the LOI

Seller

Once the buyer signs the LOI it’s sent to the seller to counter-sign

Once the LOI is signed by both the buyer and the seller, the sale continues outside of Practice Orbit.

NOTE: Either party may terminate the LOI at any point using the “Terminate LOI” button.