DALLAS — During today’s  session on cross-border transactions,  speakers offered key tips for the main phases of global deals:

Pre-signing phase

  • Have a letter of intent
  • Know the fundamental issues
  • Identify the key approvals and local closing requirements
  • Note new issues may arise during the deal
  • Structure your deal team to include experts from different fields

Diligence phase

  • Assess risk
  • Prepare the other side
  • Confirm choice and enforceability of remedies for breached warranties
  • Identify any compliance or regulatory concerns

Negotiation and documentation phase

  • Control document drafting
  • Know sometimes there will be a local transfer document
  • Note translations impact time and cost
  • Understand there is no substitute for negotiating face to face. It really helps for overcoming any cultural barriers

Closing and post-closing phase

  • Know if you can use original documents vs. electronic
  • Find out if the jurisdiction requires a company seal
  • In a multi-jurisdictional transaction, prepare for a delayed closing
  • Research level of bank involvement
  • Learn what if any post-closing registrations are required.