A “Trial Period” is a common condition in hospitality business sales and refers to when the buyer is allowed to attend the business for a pre-agreed period of time to observe the business in it’s daily operations and validate the stated takings of the business for sale.
What is a Trial Sheet?
The Trial Sheet is a document used to record the daily takings of the business during the trial period and usually signed by both parties at the end of the day to verify takings.
When to use a Trial Sheet?
If a Trial Period is a condition of sale and forms part of the buyers due diligence, it would usually commence after the Contract of Sale has been signed by both parties.
Get the Template.
Download our easy to use Trial Sheet Template in Microsoft Word format which can be easily customised to suit your needs (Australian Version).
Consult a Professional.
Always consult a legal professional for advice if you are unsure.
By Peter Kais | hospitalitytrader.com
