Glossary · Doing the deal
In short
Acting honestly and fairly without intent to defraud or mislead. In a deal, it means all parties are genuinely trying to reach an agreement and fulfill their obligations.
You and the seller are expected to negotiate and act in good faith throughout the acquisition process, especially after signing an LOI. This includes transparently sharing information during due diligence. If either party acts in bad faith, it can derail the deal or lead to legal issues.
Defined by DealRoom.so SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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