More ….. about On-Line Intermediary
Disclosure-1: The first of the disclosures will be the limited but material information incorporated in the business-for-sale ad, formatted by ValuPro.
See: sample ad
Disclosure-2: The Introductory Profile is the first disclosure release to an inquiring buyer. It does NOT IDENTIFY the business but does provide a brief financial summary and a general introduction to the type and/or nature of the business. It also includes a confidentiality agreement for completion, execution and submission by the potential buyer.
See: sample profile 7-eIntro
Disclosure-3: In order to obtain additional information, the buyer will be required to complete, execute and return/submit the confidentiality agreement to Business-Trader.com, where it will be held in confidence.
See: sample profile confidentiality agreement
- Business-Trader.com may notify seller on receipt of completed/executed confidentiality agreement, but shall NOT IDENTIFY the buyer.
Disclosure-4: The Financial Profile will also NOT IDENTIFY the business but will provide a more complete disclosure of financials and will outline the basis on which the business has been valued and priced, and will otherwise expand on the general business description.
See: sample profile 8-eFinanc
Disclosure-5: A Buyer’s Profile form complete with buyer contact questionnaire and net worth statement (or balance sheet) will often be included in the Introductory Profile. A similar but more complete electronic form through which buyers can demonstrate fit and capabilities is available on-line at Business-Trader.com. To obtain addition information, buyer will be required to complete and submit to the completed Buyer Profile to Business-Trader.com, where it will be held in confidence except as provided herein.
See: buyer profile
- Business-Trader.com may notify seller on receipt of such information and disclose relevant but ONLY NON-IDENTIFYING information to the seller.
Disclosure-6: The Business Profile will still NOT IDENTIFY the business by name or definition. The Business Profile will provide the most complete disclosure of current and historical financials, assumptions with respect to sustainability of revenues, earnings, cash flow, and a written explanation of company history; current ownership; reasons for selling; it will describe business operations, its marketplace and customer base, its suppliers, competition, business premises, employees, employee and owner compensation, etc.
See: sample profile 9-eProfile
Disclosure-7: Thereafter, only with the expressed authorization of both parties, will the identity of either party be disclosed to the other, which will typically lead to a meeting between the two, which will often coincide with or be followed by a tour of business facilities, questions and answer between the parties and requests for specific information that may not have been adequately addressed in the profiles.
Disclosure-8: Finally, should buyer’s interests ultimately lead to an Offer to Purchase, such offer should include a subject to due diligence clause whereby buyer and seller will each be granted all necessary access and time to confirm the respective representations of the parties theretofore.
This final disclosure will then be through full access to the buyer of all books, records, operations and other relevant information of the business, and open access to that required by the seller to confirm capabilities of the buyer.
See: sample due diligence
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