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  2. Information for Members

How does addy ensure raised capital goes into the entity that holds title or will hold title to the asset?

addy takes eight steps to verify the funds are deposited into the entity that holds title to the asset. These eight steps include:

  1. 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.
    1. Register of Directors
    2. Consent(s) to Act as Director
    3. Company Articles
    4. Limited Partnership Agreement
    5. Incorporation Agreement
  2. Confirming trust account of Dealer is a trust account via bank documentation and conducting penny test.
  3. Confirming Issuer bank account name matches the entity that owns or will own the property.

At the point of moving money:

  1. Title is pulled when an Issuer request a closing each time and before money is moved to confirm no changes before funds are moved.
  2. The Issuer signs a Director's Consent for Resolution for a Close.
  3. The authorized signatory of Dealer, Issuer, addy Technology Corp and addy Portal Corp sign a Flow of Funds Agreement.
  4. Third party signatory authorizes release of funds from addy Trust account via the Flow of Funds agreement via a Director's Consent for Resolution.
  5. Attestation signed by Issuer that units or shares will be issued within 30 days.