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CHISHOLM · E-2 FIELD GUIDE

In what order should a Chisholm buyer take the steps of a U.S. forage acquisition?

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THE DIRECT ANSWER

Settle ownership and control first, then sign a purchase agreement with escrow tied to approval, then document the source of funds and the business plan, and apply. Committing money before the structure is fixed is the most common way to lose it.

Commit the capital in a way that is real but unwinds only on refusal

The order exists to resolve a genuine tension: the capital must be irrevocably committed, yet no sensible buyer wants it gone if the application is refused. The accepted mechanism is a signed agreement with the price paid into escrow, released to the seller on approval and returned only on refusal. That step should follow, not precede, the renegotiation of the ownership split and the drafting of the governance provisions.

While escrow sits, Jonas assembles his source-of-funds trail and the plan for the forage operation, and the seller produces the financial disclosures. Only then does the application go in. He should not begin working in the business during visits beforehand.

Appointment availability varies and is worth checking early, particularly where a seasonal handover date is driving the commercial timetable.