What Does Seller Representation Mean?
A seller representation is a formal description of a seller's platform in acquisition agreements that reveals facts in a program of due diligence. The purpose of a seller representation is to act as a device for obtaining disclosure about the seller and the business being sold in relation to the buyer's interest to purchase its assets. It also serves as the foundation to promote the buyer's right to terminate the acquisition agreement, either prior to or at the closing period of the agreement. The process of the seller's due diligence investigation is undertaken by the buyer during this stage.
Seller representation may also be known as agent representation.