The Faces of Business Reps & Warranties Insurance - Josh Acosta
In this Exit Your Way Roundtable, Josh Acosta shed light on the technical and valuable subject fo reps and warranties insurance.
Representations and warranties are technical terms describing the fact you as the seller of a business are ensuring the data you provided during the business sale diligence process is true and accurate. This can be challenging in some situations when you are working with incomplete data or factors outside of your control. It can mean that buyers want to hold back a portion of the sale price in escrow (sometimes significant) in a business sale to cover any unknown financial costs that arose in a defined period after the business sale.
Reps and Warranties insurance is a specialty insurance policy that allows sellers to guarantee accuracy without large escrow deposits.
Josh shares the benefits of this insurance product and how he has seen reps and warranties insurance used in business transactions.
Thanks for taking the time to listen today.
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