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Creating a BA

To initiate the creation of a BA, a WebMoney Transfer participant must:

  • have a Passport that is at least personal;
  • not be an initiator or manager of another active BA;
  • not have any outstanding credits in the WMT system.

Besides meeting these requirements, it is recommended that before beginning to create a BA, the initiator have the following:

  • a clear business idea that does not violate the system's codex;
  • initial capital to implement the business idea using the BA;
  • partners for building the business process;
  • a payroll for personnel to implement the activity when revenue comes in;
  • a company site with a second level domain name.

The process of creating a BA

To register a Budget Automation tool in the Capitaller system, the initiator must create three documents, which regulate the content and rules of the BA's operation:

  • Participant Agreement to collaborate on managing the Budget Automation tool;
  • Budget Automation tool Charter;
  • Founding Declaration of the Budget Automation tool's management fund;

The Participant Agreement to collaborate on managing the Budget Automation tool sets forth the general BA requisites, the goals for which it is being created, the volume of BA management shares, and the responsibilities of the initiator and the shareholders.

The Budget Automation tool Charter determines the BA's status in the WebMoney Transfer system, the rights and responsibilities of the BA participants, and the scheme of BA expenses distribution.

The Founding Declaration of the Budget Automation tool's management fund specifies the type of activity the BA is being created for and includes the detailed BA requisites.
The procedure of creating a BA consists of successively filling out templates of the above documents and affirming (accepting) them.

Creating the participant Agreement to collaborate on managing the Budget Automation tool

When creating this Agreement, the initiator specifies:

  • the requisites of the BA to be created (its full and abbreviated name, URL, and e-mail);
  • the size of the management fund (the number of management shares and the nominal value of one share). The minimum size of the management fund is 100 units, and the minimum nominal value of one share is 1.
    Besides, the Agreement includes the basic principles of BA operation in the WebMoney Transfer system.

The initial fund size specified in this document cannot be changed until the actual start of the BA's operation, meaning until the management fund is created.

The management fund must be created within 30 days of the BA's registration through the exchange of title units for BA management shares. If the management fund is not 100% formed during this period, then the BA registration is annulled, or the management fund is automatically reduced by the amount of undistributed management shares.

Affirming the Budget Automation tool Charter

When filling out the Charter template, the initiator specifies:

  • his requisites;
  • the scheme of the BA receipts distribution.

In addition, the BA charter sets forth:

  • the BA's status in the WebMoney Transfer system;
  • the rules of the management fund's operation;
  • the rights and responsibilities of the BA administrator, personnel and shareholders;
  • how to liquidate the BA.

When affirming the scheme of BA receipts distribution, the following scheme is offered by default: 30% of the receipts are distributed to expenses, 50% - to pay the personnel, and 20% - to the management fund. The Initiator has the right to change this algorithm of receipts distribution at his discretion. After the MF is created, the decision to change the scheme of receipts distribution is made collectively by the shareholders.

Registering the Founding Declaration of the Budget Automation tool's management fund

When filling out the Founding Declaration, the initiator enters his personal information, including:

  • his full name and passport information;
  • his education background;
  • information about his employment and position;
  • the Initiator's objectives for founding this Budget Automation tool, such as to use it for sales, to transfer it to someone else after configuring it, and etc.;
  • additional contact methods with the Initiator (phone number, ICQ, e-mail and etc.);

and the specifics of the collective activity that unites the BA participants.

The information in this section is viewed as a business-plan reflecting the proposed activity of the Budget Automation tool's participants. The field is filled out in free-form, by using comments fields. In this section the Initiator has to fill out the following information:

  • description of the end product or service;
  • description of the method of receiving the product or service;
  • description of the means of selling the product and its consumer group;
  • the economic justification of the business-idea;
  • the volume of investments made by the time the BA is created;
  • a justification of the number of BA personnel needed to implement the business-idea;
  • the competitiveness of the business process that is being set up within the BA;
  • a justification of the management fund size.

In addition, the Founding Declaration contains information about the management fund's parameters and the BA's settings. This information is entered automatically and includes the following:

  • the date and time of the registration;
  • the volume of the management fund, the amount and nominal value of the management fund;
  • requisites (purse numbers) of the management fund;
  • requisites (purse numbers) of the BA's receipts;
  • the rule for distributing the title units receipts entering the requisites to the general expenses requisites (for example, 80.00% to the management fund, 10.00% to payments to personnel, and 10.00% to expenses);
  • the history of the management fund's creation.

After filling out and accepting the above documents, the Budget Automation tool is officially registered.

The system then automatically does the following:
  1. registers the BA WMID
  2. specifies the initiator's access rights to various sections of the service
  3. creates purses (receipts, expenses, payments to personnel, management fund)
  4. assigns the initiator's access rights to the purses
  5. creates rules for funds distribution from the receipts purses according to the rules specified in the Founding Declaration
  6. registers the management fund shares
  7. creates an order to redeem 25% of the management fund shares on the Shareholder service

See also:
Service description
An example of creating a BA