Due Diligence is a concept often used in business transactions that refers to the process of researching and evaluating all aspects of a company prior to entering into a contractual agreement. This typically involves examining financial statements, conducting background checks, verifying qualifications and inspecting assets. All of these steps are intended to ensure that both parties to any given transaction are making an educated decision based on sound evidence.
In other words, due diligence is your chance to do your homework before finalising any deal – so make sure you don’t skip it! Taking the time to thoroughly investigate all the available information can help you avoid costly surprises down the road.