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 walks at closing and the business cannot legally operate the next morning. 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 rather than a signature. Settle which of the two it is before the LOI, because the answer can change the price or end the deal.