About the author
Lyndsay joined our group of companies in 2009. She is currently studying towards the Institute of Leadership and Management qualifications.
She ...
Paperwork! Can we do it later?
Transactions are nearly always fast paced; different teams of advisors running around to avoid delay and trying to keep everyone happy. Each team will have their priorities and unfortunately the paperwork can take the longest. This will result in the inevitable question – can we get the deal done and do the paperwork afterwards?
Sadly the answer is often no. The paperwork, such as government or regulatory filings, finance and security documents, and legal opinions (to name a few), need to be prepared in advance and/or submitted before or at closing. The paperwork has to happen to ensure the transaction is legal and to reduce unforeseen risk to the client. Further, if the transaction is international, parties may be required to have board resolutions and powers of attorney notarised, apostilled and legalised before transaction documents can be signed and submitted.
If certain documents are unable to be completed in advance, the obligation to provide these may become a ‘condition subsequent’. Make sure you know how long you have to complete the paperwork otherwise you may find yourself in default!
Lastly, in our experience, getting the paperwork completed gives peace of mind for the future if a transaction is ever reviewed, audited or questioned.
Disclaimer:
The information included in this article is considered true and correct at the date of publication; changes to rules and regulation made after the time of publication may impact on the accuracy of the information referenced or inferred to in this article. The information in the article may change without notice and Martyn Fiddler Aviation is in no way liable for the accuracy of any information printed or stored or in any way interpreted and used by the user. This article or the information contained in it is not provided or intended to be used as advice of any form.
If you have any doubts or would like to discuss any aspect of this article, please do not hesitate to contact one of our experts who will be happy to discuss your individual circumstance.
