Applying for membership of the RTPark program and network involves a series of stages and is designed to be fully processed within a three-month time period.
Stage 1: Screening and Pre-Application
The purpose of this stage is to provide a clear explanation of the mandate of the RTPark program, description of the incentive program and its evaluation criteria. Prospective companies engage in enquiry and screening conversations and timeline, financial, and attorney requirements are explained.
Prospective companies then submit a business profile, which is used to discuss fit with the RTPark Program. At the end of this stage both parties should have an agreed position on fit.
Stage 2: Term Sheet Development
In this stage, the parties agree terms for moving forward in a long-term partnership. Upon completion of this phase, the Term Sheet is submitted for consideration by the RTPark program Board of Directors.
Stage 3: Formal Application Procedures
If the Term Sheet is approved, prospective clients are notified and the process moves to the formal application phase. During this time the formal application is submitted and applicants undergo a comprehensive due diligence involving background checks. The definitive agreements based on the preliminary terms set out in the Term Sheet and any advice, where relevant, from the RTPark program Board of Directors, are codified. Decision-making steps require the final Park Tenant Agreement to be considered by the RTPark program Board of Directors.