After the prospective buyer confirmed his interest in acquiring Hesus, we proposed the two sides use our standard procedure for secure deals: concluding a preliminary contract, making a deposit, reviewing and verifying the business, and – if all went well – transferring the appropriate funds to the seller.
Both sides agreed to a preliminary contract in which the buyer finalized his intent to purchase the business if and when the seller verified the business's current financial state: sales volume since the beginning of 2017 and expenditure amounts over that same period. To prove his intent to purchase to the seller, the buyer deposited 10% of the final amount, safeguarded by IT Business Broker and kept by us until the deal was made with us acting as guarantor.
Seeing as the buyer did business in Germany, Hesus had to be registered with a German legal entity, and euros were used as currency of account. To accept the 10% deposit, itbb.ru had to open a euro-currency bank account. The company's primary Russian ruble account is with Tinkoff Bank, and that is where we decided to open a euro-based account as well. Russian law requires filing certain paperwork to open an alternate-currency bank account, and we could file it all online with Tinkoff Bank – we didn't have to go anywhere to do it. All in all, opening an alternate currency bank account was simple and took less than a day from the moment we first inquired.
Seeing as the buyer and seller lived in different countries, we saved time and money by teleconferencing via Skype, and the contracts were signed remotely. Our specially-designed templates and negotiating procedures set up a series of successive agreements, none of which require face-to-face meetings. As part of verifying his business's declared financial state, the seller provided remote access to the business's banking and financial account records.
After the seller's verification of the business's financial situation and a successful review of the business's operations, both sides moved on to concluding the main contract and settling of accounts.