standard spvs apac

Standard Scope of Services: SPVs (APAC)


##### Service	##### Carta responsibilities	##### Client responsibilities
Maintain accounting books and records	Annual update and maintenance of accounting books and records for the SPV. - One capital call upfront (all expenses must be budgeted for upfront). - Valuation of the investment updated only on an annual basis	Provide Carta with: - Fully executed operating agreement - Subscription packets - Side letters (if applicable) - Investor W-8s/W-9s(FATCA forms), CRS self-cert forms and up-to-date contact information
	Provide Carta with: - Provide accrual adjustments - Prices per share and/or ending valuation of ownership for updated valuation numbers at least 10 business days prior to reporting deadline.
	Provide documentation to support transactions and valuations
	Completion for dissolution of the business at end of life of the applicable entities

Banking and payment of expenses	Provide Annual cash reconciliation	Provide read-only access to fund’s bank account with the ability to set up wires (bank must have two-step authorization capability and account must be in fund’s name)
Annual invoice payments - Set up electronic payments	Client to provide invoices any other supporting documents (if applicable)
	Confirm all SPV expenses (including management fee calculations) are done in accordance with the SPVs operating agreements
	Conduct final review of payments for client’s review and release.	To release payment after review.

IFRS financial reporting	External unaudited financial reporting package distributed annually to investors via the Carta platform:
Balance Sheet	Provide fund newsletter, if applicable
Statement of Operations
Schedule of Investments
Client-provided fund newsletter, posted on Carta platform

Capital calls	One capital call is included(all expenses must be budgeted for upfront).Lead time for Capital call requests is T+1. All requests to be received prior to 2pm Singapore Time and it will be initiated the next business day. Subject to an additional fee, additional capital calls are permitted within 12 months of the first close, provided it aligns with the same investment terms as the initial close	Provide dollar amount to be called

Liquidation distributions - Cash	Single Distribution - Perform waterfall calculations in accordance with SPV’s operating agreement	Provide dollar amount to be distributed and provide final sign-off on calculations *5 business day notice required for distribution requests.*
Send notifications to investors to update their wire instructions on the Carta platform	Additional follow-up with investors to confirm wire instructions beyond two attempts
Complete and coordinate potential distributions
Set up wires in bank account (T+2 from the date where all investors and GP have confirmed the bank wire details for disbursement of distribution)

Maintain investor info on the Carta platform	Investors will be responsible for updating their information, including maintaining investor contact preferences, wire instructions, and other requested information on the Carta platform.
All communications will be on the Carta platform, which will serve as the communication repository for communications like capital calls, distributions, quarterly and annual reports, investor update letters, tax documents, etc.
Carta will assist with providing you answers to investor questions related to SPV information on the Carta platform.	Provide AML/KYC documents collected from investors