We endorse the Paul Graham approach to logistically closing. Securing a conversation with a handshake on the terms, and then follow up with an email quickly on the terms. Then send formal docs. http://www.ycombinator.com/handshake/
Dear <Investor First Name> -
Great chatting earlier. I wanted to follow up on our conversation to secure your spot in <Your Company Name>.
As discussed, you are circled for a $<XX> investment in <Your Company Name> on a note with a $<XX>m cap and a <XX>% discount.
I am attaching the formal note above. Also attached above are wiring instructions for the account.
If this looks good, please e-sign the version of this note coming by separate mail via <eSign service you use i.e. Echosign>.
And please remit $<XX> to the wiring instructions attached above by 5 PM PST on Friday. Please note: we cannot guarantee availability in the round after this date / time.
Please let me know if you have any questions.
We are very excited about <Your Company Name>, and glad to add you to the backer circle.
My best,
<Your Name>