Letter of intent in international contracting

This research will address the following question: To what extent can the law, particularly international regulation, accommodate the practice of contractually organising or ‘privatising’ negotiations made through a letter of intent?

The main research question may be divided into three sub‐questions:
‐ First, what is the nature of a letter of intent?
‐ Second, what are the similarities in and the differences between the national approaches of the selected jurisdictions to the legal effect and remedial consequences of the contractual organization of negotiations? How can the converging and diverging tendencies be explained?
‐ Third, how can the existing international approach to contract negotiations formulated in international instruments (e.g., the UPICC, PECL, and DCFR) be interpreted and developed in light of the answers to the previous questions?