There can be, but normally these provisions are contained in the Non-Disclosure Agreement (NDA) that is signed up at the same time as the HoTs. An NDA is essential to protect against the damage that would be caused to the [...]
What are the usual terms and conditions of a HoT The HoT sets out: The shares/assets the buyer proposes to buy. For shares this is straightforward; for assets, there will be a list – goodwill, plant and machinery, stock etc; [...]
The HoTs is a document drawn up by the seller’s solicitor or broker once an offer has been accepted for the business. It details the business’ profile, strengths, financial information, premises details, employees, reasons for the sale, key opportunities etc. The purpose [...]
The seller, or sometimes the business transfer agent, may ask you to pay a deposit. This is unusual, but the seller may want to be satisfied the buyer really wants to the business. In other words, that you are acting [...]
