Document background
The Letter of Intent for Grants is a crucial preliminary document in the Indian grant-making process, serving as a formal declaration of the grantor's intention to provide funding subject to specific terms and conditions. This document type is commonly used when organizations or individuals wish to formalize their commitment to providing grant funding while allowing time for due diligence and detailed agreement preparation. It typically precedes the final grant agreement and outlines key aspects such as the grant amount, purpose, timeline, and major conditions. Under Indian law, while not all provisions of a Letter of Intent for Grants may be binding, certain commitments made within it can create legal obligations. The document must align with various Indian regulations, including the Indian Contract Act, 1872, tax laws, and when relevant, the Foreign Contribution (Regulation) Act, 2010. It's particularly important in situations involving substantial funding, multiple stakeholders, or complex regulatory requirements.
