Topic 6

Fees for Services

Targeted acquisition services by qualified intermediaries will vary depending on the scope of services provided and the reputation and quality of the provider. Topic 6 presents and overview of the nature of the services typically rendered and representative fee structures. It also presents a “buy-side” fee structure designed to align the interests of the buyer and the buyer's banker.

The reader is encouraged to take the time to read the text in conjunction with the referenced Appendices to gain the appropriate level of understanding of the subject matter discussed in the narrative. Appendices are either presented at the end of this Topic or are available for review and download on the companion Web site noted at the end of this Topic.


  • Fees for service vary greatly, depending on the services and the scope and quality provided.
  • Project scope and fee basis should be agreed on and documented in an engagement letter between the vendor and the seller or buyer.
  • Finders retained by sellers (sell-side arrangement) occasionally attempt to collect their fees from buyers:
    • Buyers who are approached by unsolicited finders should resist accepting a potential target's name and contact until the question of liability for the finder's fee is clarified.
    • Buyers who are approached should ask unsolicited finders: “Who pays your fees?”
    • Buyers should consider taking the position that sellers should pay finder's fees and build such fees into target price expectations. ...

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