How do I check a limousine company’s airport transfer contracts?
Read each airport transfer contract for who the other party is, how long it runs, how it ends, how pricing and volume are set, and whether it can move to a new owner. Then call the main contacts and compare the paper with the invoices and trip records.
Start with the list. Ask for every airport transfer agreement, who it is with, what it covers and when it runs out. Separate written contracts from handshake arrangements, since both may matter but they carry different risk. Ask how much of the revenue comes from each, and who manages each relationship.
Then read the details. Look at how rates are set, how volume is described, how changes or cancellations are handled and who pays for waiting time. Look for any clause that lets the other side end the deal or that restricts a change of ownership. Your lawyer should read the contracts, not just you, and can tell you what a transfer would need.
Finally, test them. Compare trip records and invoices with the contracts, and ask the main contacts how the service has been. A buyer who speaks with them directly, with the seller’s agreement, learns more than any summary. Ask whether any partner has ever threatened to leave, and what the seller did.
Key takeaways
- List every agreement, separating written contracts from handshake arrangements.
- Have your lawyer read how each can end and whether it can transfer.
- Compare invoices and trip records with the contract terms.
- Speak to the main contacts, with the seller’s agreement, and ask whether any partner ever threatened to leave.
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 02Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
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