Project Change/Edit Procedures
Context: In the event that PROJECT ceases to be an FCF project and either PROJECT registers an independent, legal non-profit foundation in Thailand; or PROJECT undertakes its project through another legal non-profit foundation in Thailand, then clauses (2) and (3) will apply.
Recognizing the importance of this shared ministry, will in good faith give favorable consideration to donating and transferring all material assets and all funds received from PROJECT to the successor foundation to facilitate the transfer of PROJECT’s project to that successor foundation, subject to deducting an amount on account of any unpaid debts owing to FCF by PROJECT.
Will also provide the successor foundation with a copy of its records relating to the affairs of PROJECT’s project, including accounting, taxation, visa, employment, immigration, insurance and asset ownership records.
Confirms, while reserving the required rights of final determination, that it is its present intention to donate and transfer all material assets and all funds received from PROJECT to the successor foundation in those circumstances.
Will, in the absence of a substantial legal ground for objection to project asset designation requests, will in good faith give favorable consideration to project requests.
In the event that PROJECT ceases to operate in Thailand and terminates its project, may request that FCF donate and transfer all material assets and all funds received from PROJECT to another legal non-profit foundation in Thailand.