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A Reviewer's Handbook to Business Valuation: Practical Guidance to the Use and Abuse of a Business Appraisal by Timothy R. Lee, L. Paul Hood Jr.

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Appendix D

Sample Engagement Letter

The following is a sample annotated engagement letter for a typical corporate valuation assignment. This engagement letter is rendered by an appraiser holding credentials from the American Society of Appraisers and the American Institute of Certified Public Accountants. Appraisers holding credentials from the Institute of Business Appraisers, National Association of Certified Valuation Analysts, Canadian Institute of Certified Business Valuators and/or the Institute of Business Appraisers should insert language pertaining to their credentialing body's professional standards. This sample should not be used without careful modification to your specific needs.

PROPOSAL DATE_________________________________

NAME_________________________________

TITLE_________________________________

FIRM_________________________________

ADDRESS1_________________________________

ADDRESS2_________________________________

CITY, STATE ZIP_________________________________

Dear PREFIX LASTNAME:

This letter is in response to your request for a proposal to provide valuation services regarding BUSINESS NAME on behalf of CLIENT NAME. APPRAISAL FIRM has the following understanding of the assignment and proposes services as outlined below.

Our appraisal services constitute neither an audit nor a verification of any entity's underlying financial records. We do not render legal, tax or accounting advice. Our services relate only to the valuation of the business interests noted ...

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