Making sure payment timings are in line.
Q: What is the industry norm in relation to receipt and timing of payments when I sell my business?
When a business is sold, the vendor will normally receive an initialpayment plus further payments over a period of time, for example, two
years. The amount of these payments may depend on premium or commission
income during that period.
It is important the vendor gets as large a payment as possible up front
even if it is an 'on account' payment, although a non-refundable initial
payment is obviously preferable. If payments are made at a later date, the
issue of additional interest will need to be
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