ABSTRACT
There are many advantages for buyers who choose to carry out their own due diligence. However, the pace of the deal and the diverse range of expertise needed means that advisers are usually a feature. The most reliable way to select the right advisers is to build relationships with them. Some advisers seek to cap their liability by limiting their liability should the client prove negligence. If the job is done properly, the adviser has nothing to worry about. If co-ordination is not done in-house, the adviser who is closest to the commercial negotiations should be appointed. Whoever is co-ordinating due diligence should make sure there is regular communication with the advisers. Getting the best out of advisers also means using the right ones. A mix of technical ability, chemistry, due diligence experience, possibly sector experience, fees and the degree of involvement by senior professionals all play a part in the final choice.
