closing
Closing a deal generally occurs when both sides sign final legal documents and money is wired from one party to the other. At this point the deal is considered closed. Though it seems relatively simple, closing can often take a long time or be delayed for the following reasons:
- One or more parties is unavailable to sign the final documents
- One or more parties is unable to fund, or wire, on the specified date
- A particular last-minute approval or internal process step requires completion
Sometime after closing, the legal service providers assisting with the deal will generally provide a "closing volume." This is a bound copy of all of the signed, final legal documents involved in the deal.