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Engagement letters define the business contract between a professional firm and its clients. (Check Contract for person(s) to send letter and manner required to send i.e.This letter is used to provide written notice to a person or organization that is in default or breach of contract. Your custom letter template will instantly convert every form response into easilyaccessible PDFs. The Engagement Letter, Fee and Document Preparation Agreement and Attorney and. 52.219-6 Notice of Total Small Business Set-Aside. 52. However, the contract might give the other party time to cure the default. Bank guarantees are often used in real estate contracts and infrastructure projects, while letters of credit are primarily used in global transactions.