The sell-side assignment is a contractual document that allows the substance and time limits of your sale project to be secured. The parties thereto are:
• the executives who want to sell their company (the “principal”;
• and the intermediary chosen for this sale (the “agent”).
The assignment sets out in a clear and precise manner:
• the assignment with which the principal is entrusting the agent. In the event of a company transfer, the agent must negotiate each stage of the process leading up to the proposed sale on behalf of the principal. He assists his client until the transfer of ownership is complete;
• the commitments of the principal (to inform the agent of any changes that have occurred in his company and about which a potential buyer should know, to validate the confidentiality agreements signed by the potential buyers, to acknowledge the amount of the fees that he shall pay us once the sale is complete etc.);
• the obligations of the agent (to fulfil their assignment in the interest of the principal etc.);
• if it is an exclusive assignment (our consultancy is the only one assigned for this sale) or a non-exclusive assignment (the principal may entrust several consultancies with sell-side assignments);
• when and how the sell-side assignment may be discontinued (for example, within the framework of a non-exclusive assignment: the seller has met a buyer directly etc.).
Head of Transaction Services – Partner