LETTER OF INTENT Definition

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LETTER OF INTENT (LOI) is a document that describes the preliminary understanding between parties who intend to make a contract or join together in another action.

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SOFT CLOSE, in accounting, is when journal entries may be allowed to periods previously considered closed with the confidence that you can create corrected financial statements and that balances brought forward are corrected; in securities, is when a fund will no longer accept new investors into the fund, however existing shareholders can continue to contribute.

REPRODUCTION COST NEW is the current cost of an identical new property.

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