Terms & Conditions

10X Business Broker Mergers & Acquisitions services delivers business consulting services to business owners who are trying to have a successful exit. Our services are paid by a success fee of the final sale. As described in our Exclusive Broker Agreement with each signed Agreement. Unless otherwise agreed, payment is due upon the close of a successful business transaction. Unless a client cancels an agreement then the fees for marketing and consulting are due at the time the termination is requested.

For services not covered by a success fee arrangement, 10X Business Broker shall charge fees on an hourly basis at the following rates:

• Business Broker and M&A Advisors: $450 per hour

• Supporting Staff: $100 per hour

Time is billed in increments of 5 minutes and includes any time spent by 10X Business Broker working on the Owner's matter, whether by email or phone.

The Owner shall provide 10X Business Broker with their credit or debit card number, expiration date, and any other necessary information for charging the Owner's card. 10X Business Broker shall keep this information strictly confidential. The Owner authorizes 10X Business Broker to charge the Owner’s card for agreed fees on or after the due date without further notice. If the total fee exceeds $5,000, 10X Business Broker may require the Owner to pay via wire transfer to a designated account requested via an email or an invoice.

The Owner acknowledges that 10X Business Broker offers competitive rates by performing services via phone, email, or online, eliminating travel time. Non-remote work, including face-to-face meetings, physical visits, or investigations in government offices or third-party premises, and any travel time, shall be charged on an hourly basis plus travel expenses, unless otherwise agreed.

Refunds are offered at our sole discretion within the first 90 days of payment. All refunds are prorated based on the amount of completed work.

Other Terms You Need to Know:

Relationship of Parties: 10X Business Broker is an independent contractor with respect to the Owner and is not an employee of the Owner. The Company is not a legal representative of any party and does not assume fiduciary responsibility.
No Legal Advice: 10X Business Broker is not an attorney or CPA and cannot advise the parties on any legal remedy, business, or tax consequences of any provision or instrument set forth or prepared in connection with this transaction.
No Guarantees: 10X Business Broker makes no guarantees, representations, or warranties regarding the advisability of entering into any transaction. The Company has not verified the accuracy or completeness of any relevant information received from any source.
Confidentiality: The Owner recognizes that 10X Business Broker has access to proprietary information (“Information”), which is valuable, special, and unique. The Company recognizes the importance of protecting such Information from improper disclosure. In consideration for the disclosure of the Information, the Company will not use any Information for its own benefit or gain, or divulge, disclose, or communicate any Information to any third party without the prior written consent of the Owner.
Payment Terms: For any consulting work and/or advice (“Consulting Services”), the Owner agrees to pay the Company based on its current hourly rates, or by a success fee/commission which is outlined in the Exclusive Broker Agreement.
Governing Law: Any claim or dispute arising shall be governed by the laws of the state of your business or the state of Wisconsin and brought only in the Superior Courts of the United States.

Consideration:

The exposure provided by 10X Business Broker to our clients shall be held proprietary and in confidence.

Term and Termination:

All Agreements shall remain in force until terminated by either party upon written notice. Keep in mind there are penalties to cancel an agreement of engagement please reference our terms and the Exclusive Agreements for details. Everyone is obligated to any contacts or conversations of the sale of a business even after a termination of a contract. Those success fees/commissions are still enforced if the client cancels or terminates an agreement and the business is sold directly. As long as the Broker Agency was involved in any of those conversations prior to the cancellation.

Non-Solicitation:

No one shall solicit, hire, or recruit any employee or contractors on behalf of 10X Business Broker Mergers and Acquisitions nor from 10X Business Broker Agency.

Grant of Rights:

The owner allows and grants the Business Broker Agency rights to represent the Owner in soliciting and publishing all ads and listing details to be posted in various media outlets to acquire buyer prospects.

Other Terms

The Owner hereby grants the Business Broker Agency the exclusive right to sell the business and/or assets for the sale price and upon such other terms or conditions as are directed or specified by the Business Owner. This agency is subject to the following terms and conditions:

1. Terms – This exclusive agency listing shall continue for a period of twelve (12) months from the date hereof. This Agreement may be cancelled at any time after six (10) months from the date hereof upon thirty (30) days written notification given by either party. If agreement has not been cancelled prior to the end of the original twelve (12) months, the Agreement shall automatically renew for an additional twelve (12) months.

2. Duties of Owners and Broker – During the term of this Agreement, Owner shall refer to Broker any and all inquiries received prior to, as well as from the date of this Agreement, with respect to or concerning the Business Assets, together with the name and address of each person or entity making such inquiry. Broker shall investigate each such inquiry as well as other inquiries or offers received by or directed to the Broker. Any inquiry so investigated, regardless of the source or referral that develops into a Buyer of the Business Listing shall be deemed to have been procured by Broker pursuant to the terms of this Agreement.

3. Success Fee/Commissions – Owner agrees to pay the Business Broker a success fee for services rendered (i) if during the term of this Agreement or any extension thereof, the Business is sold, acquired or exchanged directly by Owner or through the Business Broker or others to any person or entity whatsoever, (ii) if during the term of this Agreement or any extension thereof, Broker procures a person or entity to purchase, the Business at this listing price or at such other price or other terms as may be accepted by Owner or as agreed upon in writing by Owner and the Business Broker; or (iii) if the Business is sold, acquired or exchanged within twelve (36) months after the expiration or termination of this Agreement to anyone who inspected or made inquiry or engaged with the Business Broker Agency, the Owner or any other Broker about the Business or negotiated to purchase or exchange the Business during the term of their Agreement or any extension thereof. In the event of a sale or exchange, the commission shall be equal to the greater of (i) ten percent (10%) of gross total purchase price. The success fee/commission is earned when contract is executed and is payable at closing. In the event the owner cancels the contract before the buyer closes, commission is still contractually payable to the Business Broker Agency per the contractual agreement at the close of that transaction regardless of time of execution.

4. Miscellaneous– Owner represents that it is the Owner of the Business and has full right, power and authority to reject any offers or LOI’s. Owner hereby agrees that the amount of the success fee/commission payable to Broker Agency hereunder shall constitute a lien upon the Business. This agreement shall be binding upon the heirs, personal representatives, successors and assigns of the parties. As used in this Agreement, the term “sell” includes an exchange of the Business, it’s assets, and or any IP properties and the granting of an option to purchase the Business. Owner agrees to hold Broker harmless from all claims and demands, including reasonable attorney’s fees, incurred or arising from any incorrect information supplied by Owner or from any material fact known by Owner concerning the Business and not disclosed to the Broker Agency. In the event that Seller/Owner fails to pay the Broker Agency the success fee/commission provided for herein in full on or before the date due, Seller/Owner shall also be liable to the Broker Agency for interest on the unpaid success fee/commission at a rate of 2% per month and for attorney’s fees and expenses for collection of the success fee/commission in the amount of the greater of (i) 20% of the commission due or (ii) the attorney’s fees and expenses actually incurred.

Disclaimers:

Broker Disclaimers to Buyers - All information regarding Businesses for sale is provided by the sellers of the business and is NOT verified in any way by Broker. The broker makes no representation or warranty, express or implied, about the accuracy or completeness of any information provided to you under this Agreement. You must perform your own due diligence and verify all information regarding the business to your satisfaction before purchasing. You understand and agree that Broker is not responsible for the accuracy of any of the information contained in this sales packet and that by receiving this information you agree to indemnify and hold Broker harmless from any claims or damages which may occur by reason of the inaccuracy or incompleteness of any information provided to you. Also, you understand that the Broker has advised you to seek professional tax and legal advice before purchasing any business he represents, as the Broker cannot and does not give legal or tax advice. As a prospective buyer of 10X Business Broker, LLC business for sale, you specifically agree to indemnify and defend Broker, its agents, or its members from any claims brought against Broker by the Business or its Sellers arising from any alleged actions or inactions by you, including breach of your NDA.