License qualifier

Definition

The named individual whose contractor license the business legally operates under.

Why It Matters

If the qualifier is the seller, the license loses its qualifier at closing, and states give only a short window to name another: ninety days in California and sixty in Florida. A buyer either becomes the qualifier, which usually means years of documented experience and an exam, or hires one and keeps them, which is a salary and a retention problem, not a signature. Settle which of the two it is before the LOI, because the answer can change the price or end the deal.