|
Concession Acquisition Process
(Concession Bid Process)
|
Phase I - 20
to 30 Days
|
|
Task
|
Document
|
Timeline
|
Prepared By
|
Executed By
|
Delivered To
|
|
Seller will work with Buyer to
generate a “letter of intent” document. The “earnest money deposit” in
certified funds to Seller’s attorney.
|
5 to 7 pages
|
7 to 10 days
|
Seller and Buyer
|
Seller and Buyer
|
Seller, Buyer and
Airport
|
|
Buyer should present a
“concession concept package” to the airport Property Office
within ten business days after the above mentioned “letter of
intent” document has been executed.
|
5 to 7 pages
|
10 to 14 days starts after LOI is executed
|
Seller, Buyer
and/or RMD
|
Buyer
|
Seller and Airport
|
|
Buyer should present a “DBE Certification
Package” to the airport Property Office within twenty business days
after the above mentioned “letter of intent” document has been
executed.
|
40 to 60 pages
|
10 to 20 days starts after LOI is executed
|
Buyer and/or RMD
|
Buyer
|
Seller and Airport
|
|
Buyer should present a
“due diligence process” within thirty business days after the
above mentioned “letter of intent” document has been executed.
|
N/A
|
15 to 30 days
|
Buyer
|
Buyer
|
N/A
|
|
Seller should present to Buyer a detailed list of equipments, furniture
and fixtures” which will be acquired by Buyer, upon receiving the
executed “letter of intent” document and delivery of the “cash
deposit” in certified funds to client’s attorney.
|
10 to 20 pages
|
15 to 30 days
|
Seller
|
Seller
|
Buyer
|
|
Buyer should present a “concession concept
package” to the airport Property Office within ten business days after
the above mentioned “letter of intent” document has been
executed.
|
10 to 20 pages
|
15 to 30 days
|
Seller
|
Seller
|
Buyer
|
|
Phase II - 20
to 45 Days
|
|
Task
|
Document
|
Timeline
|
Prepared By
|
Executed By
|
Delivered To
|
|
RMD and Seller will work with
Buyer to generate a “asset purchase agreement” between Seller and Buyer, within
thirty business days after a “letter of intent” document has been
executed and delivered with the “earnest money deposit” in
certified funds to Seller’s attorney.
|
15 to 20 pages
|
20 to 25 days
starts after the LOI is executed.
|
Seller and Buyer
|
Seller and Buyer
|
Seller, Buyer and
Airport
|
|
Buyer should present a
“construction and engineering package” to the airport Property
Office within fifteen business days after the above mentioned “letter
of intent” document has been executed.
|
20 to 30 pages
|
10 to 20 days starts after LOI is executed
|
Buyer
|
Buyer
|
Airport
|
|
Phase
III - 20 to 45 Days
|
|
Task
|
Document
|
Timeline
|
Prepared By
|
Executed By
|
Delivered To
|
|
RMD, Buyer and Seller will work
with to the airport Property Office to generate an acceptable “lease
assignment agreement” document.
|
15 to 20 pages
|
20 to 25 days
starts after the LOI is executed.
|
Airport
|
Seller, Airport and
Buyer
|
Seller,
and Buyer.
|
|
RMD, Buyer and Seller will work
with to the airport Property Office to finalize transfer of business assets
to Buyer.
|
N/A
|
1 to 2 days starts after new lease is executed
|
N/A
|
N/A
|
N/A
|
A review of our
sample engagement agreement will
provide details about the scope of services offered.
|
