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English definition of “due diligence”

due diligence

noun [U]
 
 
LAW
the action that is considered reasonable for people to take in order to keep themselves or others and their property safe: exercise/demonstrate due diligence People have to exercise due diligence and watch what's being bought on their credit cards.
ACCOUNTING the detailed examination of a company and its financial records, done before becoming involved in a business arrangement with it, such as buying it or selling its shares to investors: The buyout group's due diligence is expected to run till late March.carry out/conduct/perform due diligence We had the opportunity to do due diligence on the books and we think $518 is a fair offer. due diligence exercise/investigation/process due diligence report/review/assessment
TRANSPORT the duty that the owner of a ship has to protect the people and goods on the ship from harm: The owner must exercise due diligence to provide a seaworthy ship at the commencement of the voyage.
(Definition of due diligence from the Cambridge Business English Dictionary © Cambridge University Press)
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