Vendor Management

We work with a network of quality service providers and technology vendors who are aligned with our mission and values.

Vendor selection

In selecting vendors for a specific business need, we generally interview 2-3 industry leaders and make a final selection based on a combination of factors such as price, quality and speed of service, and long-term scalability.

Contract management

All contractual agreements with OCV must be reviewed and executed by the Chief Financial Officer of the management company. If deemed required, the contract will be reviewed by the legal team.

Once a contract is executed, please request W-9 (Domestic Vendor), W-8BEN / W-UBEN_E (Foreign Vendor) from the vendor. Thereafter, submit the WSTC Vendor Intake Form here to complete onboarding.

Please direct vendors to send their invoices to [email protected]

Authorized signatory

An authorized signatory is a person who is legally allowed to act on behalf of the business. These are typically corporate officers through designations in the company’s bylaws, board resolutions, or applicable corporate law.

In the absence of the Chief Financial Officer, contracts may be executed by the General Partner or by a Corporate Officer of the Management Company acting within the scope of their authority.

Signing authority at OCV companies

Prior to an external fundraising event, OCV is an authorized signatory for our companies either through an executive officer position and/or board member status. This is required for OCV to complete entity formation steps as well as provide oversight and streamline business operations processes.

Typical engagement agreements signed by OCV for OCV companies:

• Banking services

• Content / creative services (e.g. writers and logo design)

• Finance & accounting services

• HR / recruiting services

• Tax services

Invoice approval process

Invoices received by the Accounting Team will be routed for approval:

1. Accounting Team Review: Accounting Team performs initial review (first approval) to ensure payment amount, terms, hourly rates, etc. are consistent with executed vendor contract on file.

2. Management Review: After Accounting Team’s sign-off, the invoice is routed to a designated executive for Management Review and approval in the e-payment system. Management may tag a secondary review in the system for team members who were overseeing the vendor directly. For example, review of contractor hours from the contractor’s direct supervisor.

Once an invoice is approved by Management, Accounting Team schedules batched payments.