Engagement letter

An engagement letter is the contract between an advisor and its client that defines the scope of the mandate, the fee structure, and the terms of the working relationship.

The engagement letter formalizes the mandate. It sets out whether the work is sell-side or buy-side, how success fees and retainers are calculated, the exclusivity period, and what happens if the deal breaks. Signing it is the point at which a prospect becomes a client.

Most of a firm's web presence exists to compress the distance to this signature. A credible M&A advisory site lets a counterparty self-qualify and arrive at the conversation already convinced — the exact dynamic we describe in the M&A advisory firm website that closes deals.