THE WASHINGTON CHARITABLE FOUNDATION
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HOW IT WORKS
THE WASHINGTON CHARITABLE FOUNDATION (WCF) CONTINUOUSLY SEEKS LICENSES AND GUIDANCE FROM THE US DEPARTMENT OFFICE OF FOREIGN ASSETS CONTROLS (OFAC) AND CONDUCTS ALL BUSINESS USING DUE DILIGENCE UNDER THE SPECIALLY DESIGNATED NATIONS AND BLOCKED PERSONS LIST (SDN)
THE WCF DESIGNATED BAYS CONSULTING…
The washington charitable FOUNDATION general process
1. Pre App and Pre DD process. The Potential Donor completes and submits a Pre Application Questionnaire with relevant supporting documents (WCF-100 Form).
2. Non Disclosure. A Non Disclosure Agreement is executed between Potential Donor and the WCF.
3. Application Process. Once the Pre App is confirmed and NDA signed, the Potential Donor completes Formal Application (WCF200 Form).
4. Source of Funds Declaration. The Potential Donor completes and submits Source of Funds Declaration (SOFD -1 Form) and submits it with the WCF -200 Form.
5. Compliance Process. Compliance and structuring regarding the potential transaction is developed. WCF seeks US Treasury and relevant authority approval for the specific transaction. Soft probe is conducted to Donor’s bank. Supplier contracts and related are agreed upon.
6. Pledge Agreement. A Conditional Pledge Agreement (WCF-PA) is signed between the Potential Donor and the WCF.
7. Power of Attorney. Depending on the type of transaction WCF will require a Power of Attorney for the beneficiary account.
8. Funds Transfer. Funds are wired to WCF’s bank account for Humanitarian Aid..
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