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The intention to submit milestone is completed in Inspire.  It is not compulsory but strongly recommended and does not take long.  You can use the intention to submit milestone to give your supervisor an indication of when you intend to submit your thesis.  Your supervisor will be prompted to nominate examiners early, which will avoid potential delays in your thesis being sent to examiners.  The intention to submit milestone is also an opportunity for you to state if there are any examiners that you DO NOT want to examiner your thesis.