Midwest Dental Brokers

Effective Date: January 1, 2023

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These Terms and Conditions ("Agreement") govern the use of services provided by Midwest Dental Brokers, a company specializing in dental practice transitions and advisory services. By engaging Midwest Dental Brokers ("Company," "we," "us," or "our"), you ("Client," "Seller," "Buyer," or "you") agree to be bound by the terms and conditions outlined below.

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1. Services Provided

Midwest Dental Brokers offers the following services:

• Dental practice brokerage (selling and buying of dental practices)

• Practice valuation and financial analysis

• Advisory services for practice transitions, including negotiations, and documentation

• Marketing of dental practices for sale through our network and website

• Representation of clients throughout the entire transition process

We are committed to offering professional assistance tailored to the specific needs of our clients.

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2. Brokerage Fee

For services related to the sale or purchase of a dental practice, the following fees apply:

• Seller Brokerage Fee: 3% - 6% of the final sale price unless otherwise agreed upon.

• Fees are only payable if we successfully secure a buyer and the transaction closes. No fees are charged for listing or initial consultations.

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Payment of the brokerage fee is due at the closing of the transaction. Any late payments may be subject to additional fees or interest.

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3. Exclusive Agreement 

Engagement of Midwest Dental Brokers for selling a dental practice is on an exclusive basis unless stated otherwise. During the exclusive term, the client agrees not to engage any other brokers or sell the practice independently without our involvement.

The term of the exclusive agreement and any applicable fees will be outlined in a separate contract.

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4. Client Responsibilities

To ensure a smooth and successful transition, clients agree to:

• Provide accurate and complete information related to their practice, including financials, leases, and any other relevant documents.

• Disclose any material facts that may affect the sale or purchase of the practice.

• Respond in a timely manner to requests for information and communication related to the sale or purchase process.

Failure to provide required information or documentation may delay or hinder the services provided.

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5. Confidentiality

Midwest Dental Brokers is committed to maintaining the confidentiality of all client information. We will not disclose any personal, financial, or practice-related details to third parties without your express permission, except as required by law or as necessary to facilitate the sale or purchase of a practice.

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6. Marketing of Practices

By listing your practice with Midwest Dental Brokers, you consent to us marketing the practice on our website, in promotional materials, and through our network of potential buyers. All marketing efforts will be conducted in a professional manner, designed to maximize exposure to qualified buyers.

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7. Limitation of Liability

While Midwest Dental Brokers will strive to provide accurate valuations and advisory services, we do not guarantee the final sale price or outcome of any transaction. The Client acknowledges that the sale of a dental practice is subject to market conditions and other variables beyond our control.

Midwest Dental Brokers is not liable for any losses, damages, or delays arising from the use of our services, except in cases of gross negligence or willful misconduct.

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8. Termination of Services

Either party may terminate the agreement by providing written notice. In the event of termination, any outstanding fees for services rendered up until that point will remain due.

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If the practice is sold within 12 months of termination, Midwest Dental Brokers reserves the right to collect the agreed-upon brokerage fee, provided that the buyer was introduced during the term of the agreement.

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9. Dispute Resolution

In the event of any disputes arising out of or related to this Agreement, both parties agree to first attempt to resolve the issue through good-faith negotiation. If the dispute cannot be resolved, it may be submitted to mediation or arbitration before pursuing legal action.

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10. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the state of Illinois, without regard to its conflict of law principles.

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11. Amendments

Midwest Dental Brokers reserves the right to amend these Terms and Conditions at any time. Clients will be notified of any changes, and continued use of our services after notification constitutes acceptance of the updated terms.

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12. Entire Agreement

This Agreement constitutes the entire understanding between the Client and Midwest Dental Brokers regarding the services provided. Any prior agreements, written or oral, are superseded by this Agreement.

For any questions regarding these Terms and Conditions, please contact us at:

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Midwest Dental Brokers
(708) 263-3741
info@midwestdentalbrokers.com

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By engaging Midwest Dental Brokers, you acknowledge and agree to these terms and conditions.