Location: Alternative Business Structure (ABS)

Headline Points

• The ABS has bank accounts with The Royal Bank of Scotland (RBS) – Office and Clients Account.

• There is a global professional indemnity insurance policy in place for the existing trading law company which covers the shell ABS, however, application can be made to the company’s broker/indemnity insurers to hive-off the ABS and obtain a standalone insurance policy.

• The vendor will assist with SRA requirements to include any applications and name change of the business.

• The vendor will assist with professional indemnity insurance application.

• There are no premises, staff or on-going client matters attached to the ABS.

• The vendor will prepare the Sale Purchase Agreement (SPA).