What provision is typically NOT included in a typical engagement letter from investment banks involved in sale processes?

In the context of an engagement letter from investment banks involved in sale processes, escrow provisions are not typically included as they relate to the specific terms of a transaction rather than the initial agreement for advisory services. Engagement letters primarily outline the relationship between the investment bank and their client, detailing the scope of services, compensation structure, and other operational aspects, but they do not dictate how funds will be handled post-transaction, which is what escrow arrangements govern.

Fees for service, exclusivity clauses, and engagement timelines are standard elements found in these letters. Fees for service clarify the payment structure for the investment bank’s advisory role. Exclusivity clauses may restrict the client from engaging other advisors during the process, ensuring that the investment bank has the sole opportunity to represent the client. Engagement timelines specify the duration and important milestones of the advisory relationship. Thus, while these aspects are crucial for defining the working relationship, escrow agreements pertain more to the execution of the deal itself, which is why they're not included in the engagement letter.