Due diligence is where you verify the information given to you by a business seller. The seller should give you access to the books of accounts and any other information that will help you in confirming that the business is making profits and will be profitable in the future. An ideal due diligence should be able to highlight any issues or problems that might need to be warranted or guaranteed.
Legal: here your lawyers need to check and confirm if a business has the legal title to sell. The lawyers also need to determine whether a business owns all the assets. If there are regulatory or litigation issues, the lawyers have to ensure that the business seller addresses them before you can progress with buying the business.
Financial: here you need to check the financial records of the business to ensure that there are no black holes or any hidden financial issues. For ideal results you should work with a professional such as an accountant who will help you in identifying any faulty areas.
As a business buyer you should begin due diligence after you have agreed on the price and terms of sale. You should note that the seller will most likely ask for a down payment in order to secure the exclusivity period.
Although, you can negotiate on the period, you shouldn't take more than four weeks to complete the entire process. To complete the process fast you should work with accountants and solicitors who will help you in identifying the risk areas.
Lahore board is a board whose responsibility is to promote education in Pakistan by conducting examinations that are fair, unbiased and transparent. The board was established in 1954 through the promulgation of Punjab University Act.