addy takes eight steps to verify the funds are deposited into the entity that holds title to the asset. These eight steps include:
- Confirming who holds title or will hold title to the property and gathering the following documents which will be provided in the confidentiality data room for addy Members.
- Register of Directors
- Consent(s) to Act as Director
- Company Articles
- Limited Partnership Agreement
- Incorporation Agreement
- Confirming trust account of Dealer is a trust account via bank documentation and conducting penny test.
- Confirming Issuer bank account name matches the entity that owns or will own the property.
At the point of moving money:
- Title is pulled when an Issuer request a closing each time and before money is moved to confirm no changes before funds are moved.
- The Issuer signs a Director's Consent for Resolution for a Close.
- The authorized signatory of Dealer, Issuer, addy Technology Corp and addy Portal Corp sign a Flow of Funds Agreement.
- Third party signatory authorizes release of funds from addy Trust account via the Flow of Funds agreement via a Director's Consent for Resolution.
- Attestation signed by Issuer that units or shares will be issued within 30 days.