InvestNext Best Practice
We strongly recommend creating a unique version of each document for different entity types when setting up your E-Signature templates. If there are different fields or signature pages to complete for each entity type, we recommend you set up a separate E-Signature template for each of those entity types. For example, you might set up separate E-Signature templates by grouping these entity types together:
Individual and Joint Tenants With the Right of Survivorship
Entity and Trust
Retirement
We have found this to reduce errors in the document signing process. It minimizes investor decision-making regarding which pages or fields to complete. It only displays fields that are relevant to their entity type (investing Account).
If you have not already set up your E-Signature templates, use this Article.
Adding Entity Types to Documents in the Commitment Flow
When setting up the documents for a Capital Raise, they will be added to the Document Sequence, and then select one or multiple entities to be associated with that document.
Step 1. Go to Fundraising -> Capital Raise -> Edit Deal Room
Step 2. Under Commitment Flows, click on Document Sequence
Step 3. Under each Class, click + Add Docs. Then click on Attach Documents to select an E-Signature template.
Step 4. Select the template you need from the Document Template drop-down menu. Then select the corresponding entity or entities for that template by clicking on Legal Account Types.
Do you need more specific account types? If so, you can choose the Legal Account Type, then check off the box! This will allow you to choose a Country of Origin and a Country-based Account Type, such as LLC, LP, S-Corp, etc.
IMPORTANT: If you forget to select an entity type on all of your templates, any investor using that type of investing account will not be given a document to sign. Essentially, the system will recognize there is no document to match them to.
Instead, their commitment will be moved to the Paperwork Complete status, bypassing the document signing process during the Commitment Flow.
Reviewing and Editing Investing Entity Associations
You can review the Legal Account Types associated with each document in the Document Sequence, under the Entities column.
You can edit the associated Legal Account Types by clicking the three dots ⋮ under the Actions column and selecting Edit.
You'll then be presented with a pop-up to let you add or remove Legal Account Types.
You'll also notice an additional question, If an investor has already signed this document through InvestNext, do they need to sign again?
The YES Option:
Select the YES option to let the system know any investor who has previously completed this document must fill it out again. For example, if the Investor does a second commitment, they will sign the document again.
The YES option will NOT require any investor who has previously completed the document in a Commitment to redo the document.
The NO Option:
Select the NO option to prevent the document from being served to an Investor a second time, ever.
This option should be selected if the document is only to be filled out and signed by the Investor once - regardless of how many Commitments they may make.
IMPORTANT: If you forget to select an entity type on all of your templates, any investor using that type of investing account will not be given a document to sign. Essentially, the system will recognize there is no document to match them to.
Instead, their commitment will be moved to the Paperwork Complete status, bypassing the document signing process during the Commitment Flow.
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