Closing Deliverables
Essential Question:
What needs do you need to bring to closing to get the deal done?
In Brief:
Both buyer and seller will need to deliver things, some of which can take a while to collect.
Be on the lookout for complicated or time-intensive deliverables such as third-party consents or intellectual property transfers and work on them early.
Category: Explaining the Deal
What is it?
In every agreement, there will be a list of what the buyer and the seller need to deliver at closing – from a signed version of this agreement to signed employment agreements to executed copies of payoff letters from your bank to consents.
When does it matter?
Obviously these matter at close, as these are things the parties must accomplish and deliver for this deal to close. But an early understanding of what’s actually necessary is critical.
What to look out for?
Specifically be on the lookout for closing deliverables included in this section that will require time, effort, and coordination to obtain. If the closing deliverables require extensive consents or intellectual property transfers, for example, you want to be aware of and working on those early.
