Checklist
Our Checklist provides an aide-memoire to the buyer to think about the key aspects of any transaction.
Preliminary Stage
- Review specification/documentation vs your defined requirement
- Clarify with Seller anything unclear
- Identify additional information required from Seller
- Verify ownership (documentation)
- Perform counterpart check if necessary
- Define your position in term of non-compete requirement: local or global or industry?
- Get confirmation from seller in writing of any important aspects
- Assess transportation options and logistic aspects
- Review documentation & maintenance history
- Assess refurbishment costs
- Assess other costs for bringing equipment to operation
- Consult your legal counsel for support/advice
- Survey/inspect the equipment if possible before to agree a deal
- Agree terms of the deal in principle (term sheet)
- Pay a deposit if part of the deal
- Assess & evaluate Installation costs (if appropriate)
Closing Stage
- Survey/inspect the equipment to confirm "the item" and assess deviation
- Negotiate final contract with the support of your legal advisor
- Review additional documentation on location
- Agree final contract
- Get final approval confirmation of transaction
- Secure insurance, valid from point of sale
