There are numerous methods utilized for calculating investment banking fees. Almost all firms agree that the size and complexity of the transaction should heavily influence the final amount of the fee. Beyond this principal, differences arise because some firms operate with enormous fixed costs (e.g. "bulge bracket firms") whereas others are more entrepeurnial and consequently are more "back-end" loaded. BDSA attempts to tailor every proposal to suit the client's needs, and its fees tend to be back-end loaded. When the transaction closes, BDSA receives a success fee. The fee is a percentage of the sale's price and is governed by the size and complexity of the transaction. Throughout the process of the transaction, BDSA works as your partner because the more money you make, the higher the success fee. If you like the deal that is delivered at the closing, then and only then, will you pay the success fee. You will be responsible for some costs during the time that you work with BDSA including, but not limited to, the reimbursement for client authorized out-of-pocket expenses. These costs are non refundable. BDSA considers their payment to be a demonstration of your commitment to successfully conclude a transaction and as further recognition to the time and effort needed to complete the sale.