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PORT COQUITLAM · E-2 FIELD GUIDE

Will a second application cost less than the first?

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THE DIRECT ANSWER

Not necessarily. A first case is largely projection; a subsequent one involves several years of accounts, payroll, tax filings and explanations of changes, which can take more work rather than less. Ask for a scope priced against the current facts, and separate professional fees and official charges from capital in the business. Confirm government fees at the relevant time.

Budget for the accountant as well as the lawyer

Producing current statements, reconciling ledgers and preparing schedules is accounting work, and it often takes longer than the legal drafting that depends on it. Ask both advisers what they need and when. If the business has changed materially, new entity, acquisition, restructured financing, expect the analysis to widen. Treat the resulting figure as the real cost of the application, not the legal quote alone. Confirm it in writing.

Acquiring the workboats, the mooring equipment, the shore lease and the spare inventory therefore counts, as do professional fees genuinely incurred in acquiring the business and amounts spent bringing premises into service. Non-refundable deposits, equipment purchased, leasehold improvements paid for, the lease signed and rent paid, licensing and incorporation costs, staff retained and paid, and working capital transferred into the business account are all genuine commitments and all are evidence.