Business CMA Letter

BUSINESS CMA LETTER

Client Name:   Business Name:

Consultant Name:   Effective Date:

RECITALS

WHEREAS, Client operates the business identified above and has requested a Comparative Market Analysis (CMA) to inform pricing, marketing, and potential sale strategy for the business; and

WHEREAS, Consultant is duly qualified and experienced in business valuation analysis and market comparisons and has agreed to provide the services described herein under the terms and conditions set forth in this Letter; and

WHEREAS, the parties desire to set forth their mutual understanding concerning the scope, fees, confidentiality, term, and governing law applicable to the CMA engagement.

SCOPE OF WORK

Consultant will prepare a Comparative Market Analysis regarding the business named above. The CMA will include, at a minimum:

PAYMENT TERMS

Engagement Fee: $ payable as follows:

Additional Fees: Any extraordinary data acquisition, travel, or third-party report fees will be pre-approved in writing by Client and billed separately. Estimated third-party fees: $

Late Payment: Balances not paid within days of invoice date shall accrue a late fee equal to per month (or the maximum permitted by law, if less).

TERM AND TERMINATION

Term Commencement Date: . Expected Completion/End Date: .

Either party may terminate this engagement for convenience upon days' written notice. Termination shall not relieve Client of payment for services provided and reimbursable expenses incurred prior to the effective date of termination. If Consultant terminates for Client's material breach, Consultant shall be entitled to its fees through the effective termination date and any reasonable collection costs.

CONFIDENTIALITY

Both parties acknowledge that during the engagement each may receive Confidential Information of the other. "Confidential Information" includes non-public business, financial, customer, and proprietary information. Consultant will: (a) use Confidential Information solely to perform the CMA; (b) restrict access to personnel with a need to know; and (c) not disclose such information to third parties without Client's prior written consent, except as required by law. Consultant shall exercise at least the same degree of care in protecting Confidential Information as it uses to protect its own confidential materials, but in no event less than reasonable care.

Exceptions: Confidential Information does not include information that is (i) rightfully in the receiving party's possession prior to disclosure; (ii) becomes public other than through a breach of this agreement; or (iii) is independently developed without violation of this letter.

LIMITATIONS AND DISCLAIMERS

The CMA is an analytical opinion based on available information and comparable transactions. It is not an appraisal and does not constitute a warranty, guaranty, or assurance of a particular sale price or transaction outcome. Consultant's opinion is limited by the accuracy and completeness of Client-provided information and publicly available data.

GOVERNING LAW

This Letter shall be governed by and construed in accordance with the laws of the State of , without regard to choice-of-law rules that would result in application of the laws of another jurisdiction.

ENTIRE AGREEMENT

This Letter constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior proposals, representations, and agreements, whether written or oral. No modification or waiver shall be binding unless executed in writing by both parties.

MISCELLANEOUS PROVISIONS

Independent Contractor: Consultant performs services as an independent contractor. Nothing in this Letter creates a partnership, joint venture, or employment relationship between the parties.

Assignment: Neither party may assign its rights or delegate its obligations under this Letter without the prior written consent of the other party, except that Consultant may assign to an affiliate or successor in connection with a merger or sale of substantially all of its business.

ACCEPTANCE

By signing below, the parties acknowledge they have read, understand, and agree to the terms of this Business CMA Letter and authorize Consultant to proceed with the scope set forth herein.

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