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|Letter of Understanding Regarding Terms of Proposed Contract
[NAME, COMPANY AND ADDRESS, ex.
14 Edith Street,
ZIP POST CODE]
Dear [NAME, ex. Tom Atkinson],
This will confirm that which we discussed during our
telephone conversation earlier today.
It is agreed that your firm, [name of firm], will provide
[description] for the [name of project], while we will
provide [describe], to your specifications, and all funds
necessary, up to [ceiling amount] to complete the [intent].
If this meets with your understanding of our conversation,
please sign a copy of this letter and return it to my office.
Upon our receipt of this verified letter, we will forward the
letter to our attorneys for final contract drafting and revisions.
It was a pleasure speaking with you, and I hope to join
you soon for a toast to our mutual success in the [project].
Yours very truly,