OCV Public Handbook/👛OCV Finance Operations/📒Vendor Selection & Contract Management

Vendor Selection & Contract Management

At OCV and OCV companies, 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.

Expectations for Our Vendors & OCV

We look to OCV’s vendors as our partners to accomplish our long-term vision [link here], which often results in high expectations. It is imperative for the OCV team to treat external partners with the same level of respect and professionalism as we would internally. This includes providing well-documented guidance and information that the external teams need to do their jobs well and in a timely manner.

Contract Management

Once a vendor has been selected and approved internally, we can move forward with contracting. All contractual agreements with OCV must be reviewed and approved by the COO and, if deemed required, reviewed by OCV’s legal team.
In general, other than employment agreements, OCV would review and sign a vendor or service provider’s own contract.
Typical items we review for in a contract:
  • Scope of services (including deliverable timing)
  • Fees & payment terms
  • Performance standards
  • Duration of the contract, renew terms, termination clauses
  • IP ownership (if applicable)
  • Independent contractor relationship
  • Dispute resolution

Asks of Our Recurring Vendors

We love repeat business with our existing vendors. This means the business is growing for both OCV and our partners. To help us streamline the contracting process, we ask our partners to highlight any changes to contractual terms since the last signed & approved agreement. We also prefer vendors to send us e-sign documents for signatures (see Digital Signatures section below).

Digital Signatures

Unless required by law (i.e. specific government filing forms that require wet signatures), OCV executes all signatures digitally.

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. OCV’s authorized signers are:
  • GP
  • COO

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. See for additional details.
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