Which Solicitor Prepares The Draft Sale and Purchase Agreement?

If it is a BSA or APA then normally the seller’s solicitor will produce the draft (although there is no set rule on this). If it is an SPA then, by convention, the buyer’s solicitor produces the agreement, but again, there is no set rule on this.

At Truelegal we usually volunteer to draft the main agreement regardless, in order to control the timing of the transaction and to take the initiative.

About the Author: Martin Truman

Solicitor and Managing Director at Truelegal Solicitors: Martin has spent 25+ years advising entrepreneurs and business owners. With over 3,100 small and mid-size business sale and purchase transactions completed under his watch, he is confident that Truelegal has the toolkit to deal with most issues that buyers and sellers of UK businesses encounter. Realising the full value of a business for its owner on exit is his passion.