Due Diligence
FAQs

How does the request list drafter work?

Our experience is that to draft a diligence request list most attorneys will first turn to a request list from the last deal they did. Then the attorneys will remove all of the very detailed, deal-specific requests and finally try to figure out what standard requests were not in the last request list because responsive materials were already in a data room somewhere. To determine what those missing standard requests are, most attorneys will look through three or more other samples and try to piece it together. The result is an incredibly tedious process that attorneys don’t enjoy and clients don’t want to pay for. Never mind the frustration that comes with then having to conform the style of all of the requests that have been frankensteined together into one document!

Our request list drafter solves those issues by giving you a menu of requests from which you can select. Tell us which items you want to ask for, click download and you have a perfectly formatted request list that is ready to send to the other side once you add the deal specific, like the name of the target and the name of your firm.

What is the difference between the full request list and the specialist request list?

They are meant to be different presentations of the same materials. The specialist request list drafter provides a more targeted presentation of one topic of requests. For example, are you an employee benefits attorney who only needs a set of benefits requests? Then you might find the specialist request list drafter easiest. Are you a corporate attorney trying to put together a comprehensive request list without specialist support because the deal doesn’t allow for the expense of specialists? Then you would probably find the full request list option most useful. In either case, the substantive requests are the same in each request list drafter.

How does PagerFox draft a request list? Does PagerFox use AI?

We’ve made an intentional decision not to use artificial intelligence in our request list drafter. Our view is that lawyers don’t trust AI (yet, maybe someday)—and we don’t trust AI in our practice either! The requests are static and will be the same every time that you use the drafter. So then why use it more than once? Every deal is different and it is our view that there is value in going back to the drawing board every time to make sure that you are not inadvertently omitting a request that might be needed this time but was not last time. Because it is so easy to draft a request list using PagerFox, we make it easy to go through that drafting process every time.

How long does it take to draft a whole diligence request list?

Everyone works at their own speed. But when we use the product in our daily work, we average about ten to fifteen minutes from the time that we log in to PagerFox until the time we send a complete draft to a more senior attorney or the client.

What is the purpose of the review matrix?

What do transactional attorneys love more than anything else in the world? Redlines! The review matrix is essentially a redline, showing a reviewing attorney which diligence requests that the user did and did not elect to include in the user’s downloaded list as compared to the requests available in PagerFox. We find this matrix is most useful where a senior attorney wants to review a request list drafted by a more junior attorney.