Draft for legal review
Purpose
These terms apply to a prospective buyer receiving information or an introduction concerning a business-sale opportunity through ExEx.
Buyer responsibilities
- Provide accurate identity and contact information.
- Provide reasonable evidence of seriousness, relevant background and financial capability where requested and proportionate.
- Protect confidential information and comply with the applicable NDA.
- Conduct independent due diligence and obtain legal, financial, tax and other professional advice.
- Deal honestly with the Vendor and ExEx and promptly disclose material conflicts of interest.
Information supplied
Information about a business is normally supplied by or on behalf of the Vendor. ExEx may organise or summarise it but does not warrant its accuracy. The Buyer must verify matters material to its decision.
Introductions and communications
The Buyer should use the agreed communication process and must not contact restricted employees, customers, suppliers or other stakeholders without permission.
Non-circumvention
A Buyer introduced to an opportunity through ExEx must not deliberately bypass ExEx in order to avoid properly due ExEx fees or contractual obligations. This does not create a Buyer fee unless a Buyer fee has been expressly agreed.
No investment advice
ExEx does not recommend that the Buyer acquire a business and does not provide regulated investment, legal or tax advice unless expressly stated and appropriately authorised.
No obligation to proceed
An introduction, NDA, information memorandum or negotiation does not oblige the Buyer or Vendor to complete a transaction until binding transaction documents are executed.
Law and disputes
Unless otherwise agreed, these terms are governed by the laws of England and Wales. Complaints should first follow the ExEx Complaints & Dispute Resolution Procedure.