Letter of Intent (LOI)
"Is an LOI legally binding in Turkey?"
Quick Answer
A preliminary document outlining the basic terms and understandings of an anticipated contract or M&A transaction before a binding final agreement is drafted.
Scope and Legal Distinctions
An LOI can contain binding provisions even if the contemplated deal remains non-binding. Exclusivity, confidentiality, costs and governing-law clauses need their own assessment.
What to Check in Practice
State which clauses bind, the expiry and conditions for the final transaction; do not treat the document's title as deciding its legal effect.
Sources & Authorities
Statutory framework and official guidance for this definition.
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