GITBOOK-1084: Adding wallet address change policy - Marina 10th sep

Author: marinaramos24

SUMMARY.md

@@ -199,6 +199,7 @@
     * [Delivery Assurance Process and Best Practice Policy](legal/policies-and-conditions/intersect-administration-policies/delivery-assurance-process-and-best-practice-policy.md)
     * [Due Diligence Policy](legal/policies-and-conditions/intersect-administration-policies/due-diligence-policy.md)
     * [Technical Review Policy](legal/policies-and-conditions/intersect-administration-policies/technical-review-policy.md)
+    * [Wallet Address Change Policy](legal/policies-and-conditions/intersect-administration-policies/wallet-address-change-policy.md)
     * [FAQs](legal/policies-and-conditions/intersect-administration-policies/faqs.md)
 
 ## Archive

legal/policies-and-conditions/intersect-administration-policies/wallet-address-change-policy.md

@@ -0,0 +1,87 @@
+# Wallet Address Change Policy
+
+**1. Policy Title:** Wallet address change policy
+
+**2. Version:** 1.0
+
+**3. Effective Date:** 03/09/2025
+
+**4. Review Date:** 03/09/2026
+
+**5. Policy Owner:** Head of Procurement 
+
+**6. Policy Sponsor:** Director of Operations
+
+***
+
+**7. Purpose:**
+
+* To ensure the secure and verified update of wallet addresses listed in vendor contracts after contract execution. This policy protects against unauthorized changes and potential fraud by enforcing a standardized identity verification process prior to approving any wallet address modification.
+
+**8. Scope:**
+
+* This policy applies to all vendors with active contracts who request to change the wallet address specified in their contract after it has been signed.
+* Exclusions: This policy does not apply to the initial submission of wallet addresses during the contracting phase or to vendors whose contracts do not involve cryptocurrency payments.
+
+**9. Principles:**
+
+This policy is grounded in the principles of:
+
+* Security – preventing unauthorized or fraudulent wallet address changes.
+* Verification – ensuring only authorized representatives of the vendor can initiate and approve changes.
+* Accountability – maintaining clear audit trails for all wallet address changes.
+* Transparency – consistent communication and documentation of all changes.
+
+**10. Definitions:**
+
+* Wallet Address: Represents a blockchain wallet used for receiving payments.
+* KYC (Know Your Customer): A process of identity verification to confirm the legitimacy of the requestor. For more information, you can read the [Intersect Due Diligence Policy](https://docs.intersectmbo.org/legal/policies-and-conditions/intersect-administration-policies/due-diligence-policy).
+* Authorized Representative: A person identified in the contract or via KYC who has legal authority to act on behalf of the vendor.
+* Verification Call: A phone call conducted to confirm the identity and intent of the individual requesting the wallet address change.
+
+**11. Policy Statements:**
+
+* Vendors may request a wallet address change after contract execution through the defined process. 
+* All wallet address change requests must be accompanied by a completed KYC via Sumsub.
+* The KYC form must include a valid phone number of an authorized representative.
+* A member of the Operational Services team will conduct a verification call to confirm the requestor’s identity and the change request.
+* No wallet address changes will be accepted via email or messaging platforms without full verification.
+* Changes will only be processed after successful verification and documentation.
+* It is at Intersects discretion to process wallet address change requests, circumstances exist where this may not be operationally or technically possible. 
+* All wallet address change requests and confirmations will be logged and retained for audit purposes.
+
+**12. Roles and Responsibilities:**
+
+**Vendor:**
+
+* Initiates the wallet address change request via sending an email cc’ing in [[email protected]](mailto:[email protected]) and [email protected].
+* Submits the completed KYC form including the authorized phone contact.
+* Ensures availability for the verification call.
+* Submits new wallet address using Intersects [wallet request form.](https://forms.gle/VgX7nZbcnnXL9o99A)
+
+**Operations / Payments Team:**
+
+* Procurement sends the KYC form to the vendor upon request.
+* Conducts the verification call.
+* Confirms the identity of the authorized representative.
+* Checks the new wallet address has been submitted via the google form and checked internally.
+* Updates the wallet address in internal systems post-verification and relays to the operational services team for the vendor smart contract.
+* Logs all communications and updates for audit records.
+* If the call fails or the requestor cannot be verified:
+* The change is rejected, and the vendor is notified.
+* All records are stored securely for auditing.
+
+**13. Monitoring and Compliance:**
+
+* All wallet address changes will be monitored and logged.
+* Periodic internal audits will verify adherence to this policy.
+* Fraudulent or unverified requests will be reported and may lead to contract termination or legal action.
+
+**14. Review and Amendment:**
+
+* This policy will be reviewed annually or upon significant changes to vendor engagement processes, risk management protocols, or applicable regulations.
+* Amendments require approval from the Policy Owner and the Policy Sponsor.
+
+**15. Related Documents/References:**
+
+[Intersect Due Diligence Policy](https://docs.intersectmbo.org/legal/policies-and-conditions/intersect-administration-policies/due-diligence-policy).