Investment Statuses Description #

As user goes through the investment process, status value of an investment obj gets changed on each successfully completed step. Here’s a complete list of Investment object statuses, actions that trigger certain status change and what changes happens on backend once status is changed.

Visualization of possible status transitions

NEW #

• Action: User opens ‘Investment information’ step;
• Changes: Investment obj is created. Investment information is saved and updated each step submit.

CONFIRMED #

• Action: Investor completes ‘REVIEW’ step
• UserSide: In Portfolio new investment appears with status Comfirmed.

LEGALLY CONFIRMED #

• Changes: Trade is created in NC.
• Action: NC approved accreditation documents and KYC is passed for profile.
• Changes: Investment entity gets Legally confirmed status. Transfer is created and initiated in Dwolla(if wallet is payment method)/Transaction is created in NC(if ACH is payment method).
• UserSide: In Portfolio new investment still has status Legally Confirmed.

SUCCESSFULLY CLOSED #

• Action: offer is successfully closed
• Changes: Funds are moved from North Capital escrow to offer owner’s account. Investment gets status Successfully closed.
• UserSide: In Portfolio the investment gets status Closed MM/DD/YYYY.

UNSUCCESSFULLY CLOSED #

• Action: offer is unsuccessfully closed
• Changes: Investor is refunded with full amount of invested funds, which are returned back to original paymnet source.
• UserSide: Investment disappears from Portfolio.

CANCELED DURING INVESTMENT BY INVESTOR #

• Action: Investor cancels the investment before completing a ‘Review’ step

CANCELED AFTER INVESTMENT BY INVESTOR #

• Action: Investor cancels the investment while it has CONFIRMED/LEGALLY CONFIRMED status
• Changes: in djadmin investment with this status appears on cancellation request list. So this cancellation could be reverted or approved by Admin user manually.
• UserSide: In Portfolio the investment gets status Cancellation Requested. Cancel btn disappears.

CANCELED BY MANAGER #

• Action: Set manually by admin
• Changes:
  • trade cancellation in North Capital
  • pending transaction cancellation in Dwolla
  • refund process is initiated for processed payments
• UserSide: Investment disappears from Portfolio.