Posts Tagged ‘FAQ’

What is the Difference Between a LOI and an OTP?

Tuesday, May 14th, 2019

Buying a business can be quite confusing especially when it comes to agreements, contracts, and the titles that go along with them. You may have heard someone use terms like term sheet, letter of intent, offer to purchase, and purchase agreement. They all sound similar, but are they? What exactly is the difference between an…