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The Letter of Intent for Payment is commonly used in Danish business transactions as a preliminary document to formally express a commitment to make a payment. This document type is particularly useful in situations where parties need to document a payment intention before finalizing a full agreement, such as in property transactions, business acquisitions, or large commercial purchases. The document typically includes specific payment amounts, terms, conditions, and timeframes, while complying with Danish contract law requirements. While not as binding as a final contract, it serves as a formal declaration of intent and can help establish the framework for the subsequent payment arrangement. The Letter of Intent for Payment is often used to secure preliminary commitments, facilitate negotiations, or support loan applications by demonstrating payment intentions.
