A Deal Memo is the final step in the Offer process on the Vuulr platform. You accept the Deal Memo once you have agreed on the pricing and terms of the deal with the other party.
It contains all the agreed commercial terms, including the title, rights, platform, payment terms, material delivery, region and time period.
By clicking the Negotiations tab on the side bar, both parties will be able to see the progress of the deal. With the acceptance of an offer by both parties, the deal memo will be generated and sent out to both buyer and seller concurrently for review and acceptance.
Here’s what a sample deal memo looks like:
Click here to view a full deal memo
To review and accept the deal memo, you can simply click "Review Deal Memo".
Example of an incomplete Deal Memo as viewed by the Licensor
Example of an incomplete Deal Memo as viewed by the Licensee
Once an offer has been accepted, you will need to click on the Review Deal Memo tab, scroll down to the bottom and click on the Accept/eSign to accept. Once acceptance is confirmed by both parties, the Deal Memo constitutes a firm and binding agreement for the organisations represented.
After the Deal Memo is accepted
A Deal Memo that has been accepted by the Buyer and Seller is the final step on the Vuulr platform. The contact information of both parties is revealed in the Memo, and the next step is to reach out directly to each other for invoicing, payment and delivery of assets.
Vuulr will also be in touch to ensure we have the details of the Finance Managers on both the Buyer's and the Seller's side, for invoicing purposes, as well as the Data Reporting Manager on the Buyer side (in the case where there's a performance component in the terms).
Both parties also have the option to accept and sign a formal long-form agreement, off-platform, once the Deal Memo is completed.