Saturday, December 2, 2017

Due Diligence

Due diligence:  
  • The care that a reasonable person exercises to avoid harm to their property.  
  • Research and analysis of a company in preparation for a business transaction.  
    • Merriam-Webster.

Your Building Committee spent last Thursday's meeting exercising due diligence as we continue to try to obtain the best builder for our expansion/remodeling project.  We have spent many hours interviewing different companies, paring down the choices.  We are very close and thought that we would select our builder at the last meeting.  However, we had some questions for one of the builders, so we requested an additional interview with the on-site superintendent.  After the interview, we were not able to come to a unanimous vote as there were some additional questions regarding submitted bids, references, etc.  So, exercising due diligence, we will spend an additional 2 weeks researching these builders.  

We're very close to choosing our builder, but we must be 100% sure that we've chosen the correct one. 

We'll announce our choice as soon as we have finished our due diligence.

1. General: Measure of prudence, responsibility, and diligence that is expected from, and ordinarily exercised by, a reasonable and prudent person under the circumstances.
2. Business: Duty of a firm's directors and officers to act prudently in evaluating associated risks in all transactions.
3. Investing: Duty of the investor to gather necessary information on actual or potential risks involved in an investment.
4. Negotiating: Duty of each party to confirm each other's expectations and understandings, and to independently verify the abilities of the other to fulfill the conditions and requirements of the agreement.

Read more: http://www.businessdictionary.com/definition/due-diligence.html
1. General: Measure of prudence, responsibility, and diligence that is expected from, and ordinarily exercised by, a reasonable and prudent person under the circumstances.
2. Business: Duty of a firm's directors and officers to act prudently in evaluating associated risks in all transactions.
3. Investing: Duty of the investor to gather necessary information on actual or potential risks involved in an investment.
4. Negotiating: Duty of each party to confirm each other's expectations and understandings, and to independently verify the abilities of the other to fulfill the conditions and requirements of the agreement.

Read more: http://www.businessdictionary.com/definition/due-diligence.html
1. General: Measure of prudence, responsibility, and diligence that is expected from, and ordinarily exercised by, a reasonable and prudent person under the circumstances.
2. Business: Duty of a firm's directors and officers to act prudently in evaluating associated risks in all transactions.
3. Investing: Duty of the investor to gather necessary information on actual or potential risks involved in an investment.
4. Negotiating: Duty of each party to confirm each other's expectations and understandings, and to independently verify the abilities of the other to fulfill the conditions and requirements of the agreement.

Read more: http://www.businessdictionary.com/definition/due-diligence.html

No comments:

Post a Comment