AUTOMATED SUBSCRIPTION AGREEMENT REVIEW

Every subscription agreement
reviewed before you accept it.

Upload the package from a closing and Schedule1 reviews every page on its own, works out the investor type and the exemption they qualify under, and returns one list of everything missing or contradictory with the page it appears on.

See it on your documents
For compliance teams accepting investors into exempt-market funds.
schedule1.ai/sub-scrub
Northwood Capital Partners Inc.
Subscription Agreement · 14 pages
Reviewed against
Meridian Opportunities Fund LP
Errors
must be fixed before acceptance
Page 4: Accredited investor paragraph (j) is initialed, an individual category, on a subscription signed by a corporation.
Page 11: Net assets are confirmed here as exceeding $5,000,000, which conflicts with the figure given in the certificate on page 4.
Recommendations
reviewer judgment
Page 7: The Risk Acknowledgement form carries a date but no signature.
READING THEM BY HAND

Where the time actually goes.

Some of it is spent reading every page, and the rest is spent waiting for corrections to come back.

01

How long does one agreement take to read?

Every page checked for missing fields and for figures that contradict each other, for every subscriber who comes in, before any of them can be accepted.

02

How many times does it go back?

An incomplete agreement returns to the investor or the dealer for correction, and the close waits on whatever the first read missed.

THE AUTOMATED REVIEW

Every page reviewed without anyone reading it.

Upload the agreements from a closing and the review runs unattended. Schedule1 identifies the subscriber, settles which exemption applies, and checks the document against what that particular investor was required to complete, returning findings your reviewer can act on directly.

Everything comes back in one list
The full set of findings arrives together, so an agreement goes back to the investor or the dealer once, carrying every correction it needs.
The whole closing goes through in one run
Every agreement is reviewed without a person opening any of them, so the work your team does stays flat as the raise grows.
Works out the investor type before checking anything
The review establishes whether the subscriber is an individual or an entity and which exemption applies, then tests the document against what that investor was required to complete.
Separates errors from recommendations
Errors are the findings that need fixing before acceptance, and recommendations are the ones your reviewer should weigh.
Every finding names its page
Findings arrive prefixed with the page number they were found on, so a reviewer opens the document once and goes straight there.
Each document is reviewed fresh
Results are never cached, because requirements move, documents vary in small ways, and a stale pass is worth less than the risk it carries.
Thresholds come from the document in front of it
Consistency is assessed against the dollar figures printed on that agreement, with no assumed thresholds carried in from elsewhere.
FUND RULES

Your policy applied to the right fund.

A firm running several funds rarely runs one set of requirements. Each fund carries its own rules in Schedule1, the reviewer picks the fund before the run, and those rules take precedence over the default review for that document.

Rules belong to the fund
A minimum subscription, a required local form, an eligibility restriction — each fund carries its own free-text rules, and the reviewer picks the fund before the run.
Fund rules take priority
A fund rule is injected ahead of the default review and governs where the two would differ.
Every edit is versioned
Rule changes are kept with their history, shown as a line-by-line difference, and any earlier version can be restored.
Schedule1 maintains them for you
Fund rules are written and kept current by us on your behalf, so the review reflects your policy without your team administering it.
Standard review is always available
Running without a fund selected applies the default compliance review on its own.
MANAGED ACCOUNTS

When an adviser subscribes for many managed accounts at once.

Some subscriptions arrive from a registered adviser buying on behalf of the accounts they manage. The amount on the agreement then has to agree with the accounts behind it, and that list often arrives as its own spreadsheet.

Worked example
Subscription Amount on the agreement$450,000
Underlying accounts on the list14
Sum of the account amounts$447,500
Difference$2,500
The account rows are parsed, converted to integer cents, and summed by the application itself, so the arithmetic never depends on the model.
Stated on the agreement
$450,000

The Subscription Amount the adviser signed for, taken from the main document.

Sum of the accounts
$447,500

Recomputed from the fourteen account rows, whichever appendix or attached file they arrived in.

A $2,500 gap between the two is the kind of thing that otherwise surfaces after the units have been issued.

Recognizes an adviser subscribing for managed accounts
The accredited investor category for a person acting on behalf of a fully managed account is category q, though forms vary in the letter, wording, and section they use, so it is identified by meaning.
Finds the account list wherever it arrived
Rows are read from any appendix inside the agreement or from a spreadsheet attached alongside it, and uploads are sorted into agreement or list without asking you.
The application does the arithmetic
Account amounts are parsed to integer cents and summed by the engine itself, so a total never depends on a model adding up a column.
A blank in-document appendix stays quiet
For these submissions the list commonly arrives as a separate file, so an empty appendix is treated as expected and suppressed from the findings.
The adviser checklist is reported on its own
Category selection, the accredited investor exemption, registrant confirmation, and the discretionary-advisor attestation are each tracked, with a section absent from a given form marked as such.

Three ways a document contradicts itself.

Missing fields are the easy half, and these are the findings that need the whole document held in view at once.

Asset values
A net-worth, asset, or income level confirmed in one section is tested against every other place the document states one, using the thresholds printed on that form.
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Investor type
Exemptions and initialed lines are checked against whether the subscriber is an individual or an entity, so a category written for one and taken by the other surfaces.
LIVE
Geography
Exemptions, risk acknowledgements, and elections are checked against the address on the form, so a Quebec-only selection by a subscriber elsewhere is flagged.
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Know everything that needs fixing
before it goes back.

Send us a handful of agreements you have already reviewed and we'll show you what comes back.

See it on your documents