A Cayman voluntary liquidation quote should state the professional work included from preparation and appointment through to dissolution, with external disbursements shown separately. This article explains the scope and information needed for a clear fixed-fee quotation.

What the professional fee should cover

The professional fee should cover the opening review, preparation of the liquidation documents, consent and appointment, statutory administration, liquidation records, routine correspondence, completion documents and the filings required to bring the company to dissolution.

A fixed fee gives the client a clear budget for that defined scope. The quotation should state the assumptions used, the information required at the outset and the point at which any work outside the scope would first be discussed.

What disbursements cover

Disbursements are external costs paid as part of the statutory process. For Cayman, these can include Cayman government and Gazette charges, together with any registered office provider costs connected with the closing work. They should be shown separately from the professional fee and any monetary amount should be stated expressly in US$.

Information used to prepare the quote

The quotation is based on the company type, registration status, ownership, corporate records, filing position and the work still required to conclude its affairs. Provide the company name and number, a recent balance sheet or short financial summary, and details of any bank accounts, contracts or regulatory status.

When the scope may change

If the opening information shows that property must be transferred, liabilities settled, records reconstructed, filings regularised or a regulatory approval obtained, that work can be scoped separately. It should not be added to the fee without first being explained and agreed.

Comparing quotations

Compare the total scope rather than the headline number alone. Check whether the quote includes preparation, liquidator appointment, notices, closing accounts or statements, completion filings and dissolution, and whether the estimated disbursements are clearly identified.