Difference between revisions of "Custodian Agreement"
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| − | An promise signed by the [[Custodian]], to all network [[affiliates]], in which it is established, without any doubt, that the [[Custodian]] plays the role of a trust, to hold some [[assets]] / [[resources]] or be the host of some [[processes]] for the network, that any use of these [[assets]] / [[resources]] or [[processes]] will only be conducted for the benefit of the network (i.e. of all [[affiliates]]). Furthermore, in this promise the [[Custodian]] makes the firm engagement to cede all [[assets]] / [[resources]] and [[processes]] entrusted to it by network [[affiliates]] to another organization of the network [[affiliate]]'s liking, based on a described process given by the network [[affiliates]], if the network [[affiliate]] chose to do so, for any reason. | + | A unilateral [[contract]]. An promise signed by the [[Custodian]], to all network [[affiliates]], in which it is established, without any doubt, that the [[Custodian]] plays the role of a trust, to hold some [[assets]] / [[resources]] or be the host of some [[processes]] for the network, that any use of these [[assets]] / [[resources]] or [[processes]] will only be conducted for the benefit of the network (i.e. of all [[affiliates]]). Furthermore, in this promise the [[Custodian]] makes the firm engagement to cede all [[assets]] / [[resources]] and [[processes]] entrusted to it by network [[affiliates]] to another organization of the network [[affiliate]]'s liking, based on a described process given by the network [[affiliates]], if the network [[affiliate]] chose to do so, for any reason. |
| − | In other words, the [[Custodian]] agreement | + | In other words, the [[Custodian]] agreement establishes the [[Custodian]] as a service provider to the network, the service of being a trust (holder of assets or the locus/recipient of some process). |
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| + | [https://docs.google.com/document/d/1LTjFQWBFashQgzgEdev51IDZY-SLaVECBLfY32_JNDQ/edit#heading=h.xww7k0hp7nl4 Example of a custodian Agreement for an open venture within the Sensorica OVN] | ||
Revision as of 04:13, 5 January 2023
A unilateral contract. An promise signed by the Custodian, to all network affiliates, in which it is established, without any doubt, that the Custodian plays the role of a trust, to hold some assets / resources or be the host of some processes for the network, that any use of these assets / resources or processes will only be conducted for the benefit of the network (i.e. of all affiliates). Furthermore, in this promise the Custodian makes the firm engagement to cede all assets / resources and processes entrusted to it by network affiliates to another organization of the network affiliate's liking, based on a described process given by the network affiliates, if the network affiliate chose to do so, for any reason.
In other words, the Custodian agreement establishes the Custodian as a service provider to the network, the service of being a trust (holder of assets or the locus/recipient of some process).
Example of a custodian Agreement for an open venture within the Sensorica OVN