Collate Day Warranty मुफ़्त में

welcome to deal dialogue hello and welcome to deal dialogue a discussion on all things M&A and financing I'm Rob Hickey with RBC mid-market M&A in this segment we are going to discuss the first of a number of recent innovations changing the deal-making industry for the better now some innovations are of a technological nature and we'll talk about those in the future others involve new financial products and services that seek to create efficiencies lower risk or costs one such offering that we will discuss today is representation and warranty or rep and warranty insurance joining us today along with our production engineer Tara cami is Sean Flynn a vice president with bfl Canada Sean welcome to the podcast thank you rob Thank You Terry awesome to be here before we dive into this topic Sean can you give us a little bit of your background certainly I was with Scotiabank corporate banking for about five and a half years in the telecom media technology group as a lender I then pivoted into commercial lending and that did that for about a year and a half and and really fell in love with supporting private businesses and getting behind entrepreneurs and through kind of referral networks I learned about this product rep from warranty insurance and saw an opportunity to come over to a space that was was growing a little bit more exposure to private equity and jumped over about 14 months ago to BFL Canada great tell us about BFL Canada VfL Canada is one of Canada's largest insurance brokerage risk management and employee benefits consulting firms have over 750 employees 18 offices so we truly cover Canada from coast to coast we have global capabilities sometimes people think with our name we might not reach beyond the country but we are a founding partner and locked in global giving us access to 130 countries and lastly I would say we have a very entrepreneurial spirit and DNA and we really really love supporting Canadian businesses great so with that background I think we'll give a little precursor here about rapid warranty insurance so involve many documents and ultimately the transaction is documented in an agreement of purchase and sale which is a legal document between the buyer and seller this sometimes daunting and lengthy document spells out the legal terms of the transaction and responsibilities of the buyer and seller included in those responsibilities are what are called representations and warranties or reps and warranties what I can tell you from personal experience is that this phase of a transaction historically was fraught with risk and angst on both sides and typically could derail a transaction up until very recently this process did not change but there has been innovation in the industry with the introduction of rep and warranty insurance Sean can you just for the sake of folks that are listening describe reps and warranties generally before we get into the evolution of the product yeah but that one Rob would like to kind of give...