Set out the handover services that continue after completion

It is commonly needed where completion does not mean an immediate operational break. For example, the buyer may still rely on the seller for IT access, finance support, supplier coordination, customer administration or short-term staff assistance. If those arrangements are left in emails or informal discussions, disagreements can arise over what is included, how long support lasts and whether extra charges apply. A transition services agreement records those practical handover points in one place, which is especially useful when the business cannot afford confusion during the changeover period.

It will usually set out the services to be provided after completion, the period they will run for, any fees or reimbursement arrangements, service standards, access requirements, confidentiality points and each party's responsibilities. It may also deal with liability allocation, termination rights and how changes to the services are handled. The exact wording depends on the transaction. A short-term payroll support arrangement, for example, raises different drafting issues from a broader handover involving systems access, customer-facing functions and several operational teams.

The key factors are the nature of the sale and the practical support needed once ownership changes. We usually need to know what services are continuing, who will provide them, how long they are expected to run, what systems or information access is required, and whether there are any sensitive dependencies in the business. Those details shape the clauses on charges, responsibilities and operational standards. If several service streams are involved, the agreement can be structured so each one has its own description, timing and exit mechanics.

Often not, especially where the handover is commercially important. A generic template may not describe the services clearly enough, deal properly with service levels, allocate responsibility for delays, or address what happens if support ends early. Those gaps matter when the buyer is relying on the seller to keep part of the business functioning after completion. A more tailored agreement is usually worth considering where the arrangement involves shared systems, customer communications, finance functions, data access or any support that could disrupt trading if the wording is vague.

Timing usually depends on how settled the handover arrangements already are. If the services, duration and charging model have largely been agreed, drafting is generally more straightforward. If there are still open questions about service scope, access rights, responsibility for staff time or how the support period will end, the agreement may take longer because those points need clearer instructions first. The quickest next step is usually to provide a summary of the sale, the proposed transition services and any heads of terms or draft sale documents that already mention the handover.

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