Fixed Fee Business Valuations for Family Law Matters

What does the client get?

The concept is simple.  We will provide a report setting out the valuation of a business in a single entity for a fixed fee and complete it within 5 (five) weeks or we will reduce the fee.  More specifically:

• The fixed fee is for the valuation of one (1) business in a single entity (i.e. one company, trust, or partnership that operates one business).
• The valuation would be on the basis of the most recent financial statements, such as 30 June 2009.
• The report will be annexed to an affidavit ready for filing.
• The report will be completed within five (5) weeks or the fee will be reduced.
• The cost of the valuation will be $5,500 including GST. If we do not have the report completed within five (5) weeks from the date we receive the instructions, payment and required information, we will  reduce our fee by $1,100 including GST for every two additional weeks or part thereof that is taken to complete the report.

What do you need to do in order to accept the offer of a Fixed Fee Valuation?

In order to be able to make this fixed fee service available and complete our report within the agreed five weeks, at the time of receiving instructions, we require certain documents to be provided along with payment of the fixed fee.  We also require responses to any additional information requests to be provided within four (4) days.   

More specifically, the time period for completion of the report will not commence until all of the following is provided and all information must be provided at the same time. 

• A letter of instructions that clearly sets out the full names of the parties (including which party is the respondent and applicant), the names and contact details of the instructing solicitors, the Court file/proceedings number and instructions to value the entity for the fixed fee. 
  Click here for a sample letter of instruction.
• Payment of the fixed fee of $5,500.  Payment may be by cheque or credit card. 
  Click here for a credit card authorisation form.
• An engagement letter signed by each party. 
  Click here for a copy of the engagement letter required to be signed by each party.
• Responses to the relevant list of information required depending on the entity being valued.  The list involves providing explanations and supporting documents. 
  Click here for the relevant list of information required: information required for company; information required for partnership; information required for trust.
• Regardless of the structure of the entity, responses to the information required from the wife and the information required from the husband.
• A list of all email addresses to which any requests for additional information will be sent.  Ideally, this will include an email address of the person most likely to be able to respond to any requests for further information and documents.

Please note than an additional administration fee may be charged if all items above are not provided at the same time.

It is also important to stress to the client that we must be provided with responses to any additional requests for information within four (4) days (including non-business days).  If responses are not received within this period, additional fees may be charged. Our report also may not be completed within five weeks and our fee will not be reduced.

Should you have any questions, please review our frequently asked questions. 

If you have any other questions or require any clarification, please contact Nick Gaudion on 02 4928 8500 or email fixed.fee.valuation@cutcher.com.au.