Registered Fund Subscriptions

Lifecycle

The state transitions of subscriptions are tracked by the status attribute in the RegisteredFundSubscription object. Subscriptions into Registered Funds can be created, edited, and managed through the /primary/v1/registered-fund-subscription endpoint.

As Subscriptions into Registered Funds go through the different stages, Monark will send webhook events so that updates can be sent to investors, advisors, and internal operations team members.

Status	Description	Potential Next Status(es)
`Template`	The Subscription has been created, but the subscription agreement has not yet been filled with data from the database.	`TemplateFilled`
`TemplateFilled`	Describes the phase when the Subscription into the Registered Fund has been created, and data has been populated into the Subscription Agreement. There are no signatures in place on the document at this point.	`InvestorSigned`
`InvestorSigned`	Describes the phase where the investor has signed the subscription agreement. Signature dates will be placed on the subscription agreement at this point, if applicable.	`AdvisorSigned`
`AdvisorSigned`	Describes the phase where the investor has signed the subscription agreement. Signature dates will be placed on the subscription agreement at this point, if applicable.	`AdvisorSigned`

Subscription Workflow

The process for adding Subscriptions into Registered Funds through the APIs is described below.

Financial Advisor and Investor information is passed to Monark through the /primary/v1/financial-advisor and /primary/v1/investor endpoints.
Investor or advisor inputs subscription amount, and subscription is created through the /primary/v1/registered-fund-subscription.
Investor or advisor generates preview of subscription agreement. This is done through the /primary/v1/registered-fund-subscription/{id}/preview endpoint, using the subscription ID generated in step 2. Monark's system will place data on the subscription document using the financial advisor and investor information. Subscription is in TemplateFilled status at this point.
Investor signs subscription. This is done through the /primary/v1/registered-fund-subscription/{id}/sign-investor endpoint. Subscription is in InvestorSigned status at this point, and the investor's signature is placed on document.
Advisor signs subscription. This is done through the /primary/v1/registered-fund-subscription/{id}/sign-advisor endpoint. Subscription is AdvisorSigned status at this point, and the advisor's signature is placed on the document.

At this point the subscription is complete and ready to be sent to the fund administrator, transfer agent, etc.