Thank you for choosing BizWorth for your business valuation and related report needs. This agreement outlines the terms and objectives of the engagement between Client and BizWorth, establishing a legally binding contract. Please review this document carefully.
This agreement confirms that Client has retained BizWorth to provide business valuation and related services. As part of this engagement, we will prepare a comprehensive report. Client authorizes BizWorth, its employees, and agents to take any necessary actions to conduct the engagement. We intend to initiate the engagement on the first business day following the submission of all required intake forms and financial information. If, for any reason, we are unable to complete the engagement, we will not issue a report, and we may withdraw from the engagement if it violates our ethical or professional standards.
Our services are intended for the purpose specified in the Order Summary, and our conclusions of value should not be considered guarantees of the actual sale amount or any determination by a court or fact finder. The analyses and reports are strictly for use within the context of this engagement by the parties involved, and their use for any other purpose or by any other party is subject to our prior written consent.
Under the terms of this agreement, our conclusion of value and the scope of our work do not constitute U.S. federal tax advice and cannot be used to avoid federal tax penalties or promote transactions based on our conclusions.
The fee for the report is outlined in the Order Summary, and we require 100% payment at the commencement of the engagement, expected to begin the day after receiving the requested documents, including intake forms and financials.
This fee is contingent on:
Unforeseen circumstances necessitating an expanded scope of engagement will be discussed with the Client before additional work is undertaken. As the engagement progresses, pre-approved related charges will be billed monthly, with payment due upon receipt of invoices. Final payment is due on the day the report is provided to the Client. Disagreements regarding invoice amounts must be communicated in writing within 10 working days of the invoice date. Failure to do so renders such disagreements invalid, and we reserve the right to discontinue services if the Client's account balance becomes 15 days past due.
We may charge the Client for pre-approved out-of-pocket expenses incurred during our engagement, including computer database usage, industry research reports, travel, and living expenses, as well as fees for other professionals' consultation. We may also retain third-party service providers with the Client's prior approval.
In developing our conclusion of value, we may use third-party service providers, with whom we will share confidential information under appropriate confidentiality agreements. If such agreements cannot be obtained, the Client's consent will be sought.
Client has the right to cancel their order for a report within 5 business days from the date of ordering ("Cancellation Period") without providing any reason. Date of order is the date that the required information necessary to complete the report is submitted to BizWorth via the Data Collection Portal - typically triggered by the clicking the "I've Finished" button at the end of the application. To exercise the right to cancel a submitted order, Client must notify BizWorth in writing of their decision to cancel the order within the Cancellation Period.
A. Cancellation Process. To cancel an order, Client must provide a written notice of cancellation to BizWorth via email (firstname.lastname@example.org) or registered mail, clearly stating their intent to cancel the order and providing relevant details such as the order number, client information, and any other necessary identification.
B. Refund Policy. If Client cancels an order within the Cancellation Period and complies with the cancellation process as outlined in Section B, a refund will be issued, minus the $500 non-refundable administration fee. The refund will be processed using the original payment method, and Client will be notified of the refund status.
C. Non-Refundable Period. After the expiration of the 5-day Cancellation Period, Client is no longer eligible for a refund, and the full amount paid for the report will be retained by BizWorth. The report will still be delivered as per the agreed-upon terms of the contract.
E. Report Delivery. If Client cancels an order within the Cancellation Period, any deliverables, including the report, will not be provided.
F. Exceptions. In exceptional circumstances where the report delivery has already commenced or completed within the Cancellation Period, Client acknowledges and accepts that they will not be eligible for a refund, and the full amount paid for the report will be retained by BizWorth.
G. Modifications and Amendments. BizWorth reserves the right to modify or amend this cancellation policy at any time, without prior notice. Any changes to the policy will be effective immediately upon posting on BizWorth's website or notifying Client through other means of communication.
H. Acknowledgement. By placing an order for a report, Client acknowledges and agrees to abide by this cancellation policy, including the non-refundable administration fee of $500 and the specified cancellation process.
Our conclusion of value is based on our best efforts to obtain reliable data within a reasonable time, and we do not warrant the accuracy, completeness, or reliability of such data. We adhere to the professional standards of the National Association of Certified Valuators and Analysts.
All information and materials collected during our engagement are our work files, which we will maintain in strict confidence, with unlimited discretion to retain or dispose of them.
We will make every effort to keep the report, its content, and Client information confidential. However, we are not liable for disclosures mandated by legal or regulatory authorities.
For purposes of this Section, “disparage” shall mean any negative statements, reviews, comments, or feedback, whether oral, written or otherwise, about BizWorth, BizWorth’s directors, officers, owners, members, managers, partners, employees, consultants, contractors, subcontractors or affiliates.
A. Client agrees not to disparage BizWorth either directly or by or through another person, through any medium to include, but not be limited to, text, email, social media (Facebook, Twitter, LinkedIn, etc.) or business review websites (Yelp, Consumer Affairs, Google Business Profile, etc.); provided, nothing herein shall prohibit (i) critical communications between BizWorth and Client or Client Parties during the Contract Term or Transition Services or (ii) Client and Client Parties from disclosing truthful information if legally required (whether by oral questions, interrogatories, requests for information or documents, subpoena, civil investigative demand or similar process). For purposes of this subsection, the term “Client Parties” shall mean the executive officers and designated spokespersons of the Client.
B. Parties understand, agree, and acknowledge that BizWorth would be harmed financially by violation of this Section. Therefore, Client agrees to pay the amount equal to the sum of all reports and services invoiced to Client over the previous 12 months for each violation of this Section.
This agreement is legally binding and applies to Client and us, their heirs, assigns, successors, and legal representatives. Any amendments require the prior written consent of both parties.
In the event that BizWorth is subpoenaed by a court of competent jurisdiction or is requested by Client or other party to provide documentation or testimony related to any report prepared on behalf of the Client, the Client agrees to compensate BizWorth for its services as follows:
A. Hourly Rates: The Client shall pay BizWorth at BizWorth's prevailing hourly rates for the time spent by BizWorth personnel in providing documentation and/or preparing, attending, or providing testimony in court proceedings, including but not limited to depositions, hearings, trials, and related matters.
B. Travel Expenses: Additionally, the Client shall reimburse BizWorth for all reasonable and documented travel-related expenses incurred by BizWorth personnel in connection with their participation in court proceedings, including, but not limited to, travel costs, accommodations, meals, and incidentals.
C. Notification: The Client shall promptly notify BizWorth of any subpoena or legal request for documentation or testimony that pertains to the services provided by BizWorth. The Client shall provide BizWorth with a copy of the subpoena or legal request upon receipt.
D. Upfront Payment: The Client shall make an upfront payment to BizWorth for the anticipated cost of providing documentation or testimony as specified by BizWorth prior to the commencement of such services. This upfront payment shall cover BizWorth's estimated fees and anticipated travel-related expenses.
E. Additional Costs: In the event that the actual costs incurred by BizWorth exceed the upfront payment, the Client shall promptly reimburse BizWorth for any additional costs upon receipt of an invoice from BizWorth.
We have no obligation to issue a report, communicate our research, analyses, or conclusions, or appear for testimony until the Client's account is paid in full, or alternative arrangements have been mutually agreed upon in writing.
Client acknowledges their awareness of the extent of services performed, understands this agreement, and accepts its terms.
By executing this agreement via the Checkout process on the BizWorth website, Client confirms their understanding and acceptance of this agreement.