Draft for legal review
Overview
The ExEx Business Sale service is intended to provide a clear, controlled route from an owner's first enquiry to completion while protecting confidentiality and ensuring that both sides understand the process.
1. Initial enquiry
The Vendor provides a brief confidential outline of the business and the objectives for a possible sale.
2. NDA
Before commercially sensitive information is released, appropriate confidentiality arrangements are put in place.
3. Vendor Questionnaire
The Vendor completes the Business Sale Information Questionnaire so that ExEx can understand the business, ownership, financial profile, reason for sale and preferred outcome.
4. Preliminary assessment
ExEx considers whether the opportunity is suitable for the service and discusses likely positioning, process and information requirements. This is not a formal valuation unless expressly commissioned.
5. Instruction
If both sides wish to proceed, the Vendor enters into the Business Sale Agreement - Vendor and the agreed fees, commission, exclusivity (if any) and scope are recorded.
6. Preparation
A suitable information summary and supporting material are prepared, with confidential information released progressively and appropriately.
7. Buyer search
ExEx identifies and approaches potentially suitable buyers through its network, platform and agreed search activity.
8. Buyer qualification
Potential buyers may be asked to provide sufficient information to demonstrate identity, seriousness, relevant background and, where appropriate, financial capability before sensitive information is released.
9. Introductions
Qualified parties are introduced under the Business Sale Agreement - Buyer and appropriate confidentiality obligations.
10. Negotiation
The Vendor and Buyer negotiate commercial terms, supported by their own professional advisers. ExEx may facilitate communications but does not provide reserved legal, tax or regulated investment advice.
11. Due diligence
The Buyer and its advisers undertake appropriate financial, legal, tax, commercial and other due diligence. The Vendor is responsible for the accuracy and completeness of information supplied.
12. Completion
Solicitors and other professional advisers document and complete the transaction. ExEx's agreed success fee or commission becomes payable in accordance with the applicable Business Sale Agreement.