RainCheck Service Scope And Exclusions

Service Scope and Exclusions

Latest Update October 14, 2026

How this page works

This page sets out what each RainCheck service package includes, what it leaves out, and how the Standard and Plus versions differ. It forms part of your Order and works alongside our Terms of Service. If this page and the Terms conflict on scope, limits, or timing, this page controls. The package description shown at checkout is the short form of the same text.

Every package comes in two versions. Standard covers a single deal within the stated limits. Plus covers larger or more complex deals, with higher limits and a walkthrough call, at a higher fee. You choose the version at checkout. If your deal goes beyond the limits of the version you bought, we will quote an upgrade or add-on before we continue.

Packages build on each other. "Everything in" a lower package means the same version of that package: Standard includes the lower package's Standard scope, and Plus includes its Plus scope.

Turnaround is counted in business days from the day we receive complete materials. It is an estimate, not a guarantee, and it pauses while we wait for missing materials.

Deal Screen

A fast go/no-go read on a new opportunity, based only on the materials you submit. Turnaround: 3 to 5 business days.

Included in both versions

Disclosure-completeness (DCS) check on submitted materials
Headline risk flags
A written recommendation on whether deeper diligence is warranted

	Standard	Plus
Fee	$2,500	$3,500
Deal type	Single asset or single-structure deal	Multi-asset, multi-class, or cross-border deal
Materials reviewed	Up to 5 documents and 50 pages	Up to 15 documents and 150 pages
Follow-up	Written findings	Written findings plus one 30-minute walkthrough call

Not included

Background checks on the sponsor or its principals (starts at Sponsor & Track Record Check)
Analysis of deal structure, waterfall, or terms (starts at Structure & Terms Review)
RUES scoring or asset-specific underwriting (starts at Asset-Specific Underwriting)
Independent verification of any fact in the materials, or any valuation
Materials beyond the page and document limits, which we quote as an add-on

Sponsor & Track Record Check

Background and performance history on the people running the deal. Turnaround: 5 to 7 business days.

Included in both versions

Everything in Deal Screen (same version)
Sponsor entity and principal background review
Track record review across prior deals, where disclosed
A red-flag summary on sponsor history

	Standard	Plus
Fee	$4,500	$6,000
Sponsor entities and principals	1 entity and up to 3 principals	Up to 3 related entities and up to 6 principals
Prior deals reviewed	Up to 5 disclosed prior deals	Up to 10 disclosed prior deals
Jurisdictions searched	United States	United States plus up to 2 additional jurisdictions
Follow-up	Written findings	Written findings plus one 30-minute walkthrough call

Not included

Performance claims that are not documented. We review prior deals the sponsor discloses or that appear in public sources.
Private investigator work, reference calls, or interviews with the sponsor or past investors
Analysis of deal structure, waterfall, or terms (starts at Structure & Terms Review)
RUES scoring or asset-specific underwriting
Any clearance, endorsement, or approval of the sponsor. Our findings are a risk assessment based on public records and the materials you submit.
Entities, principals, deals, or jurisdictions beyond the limits above, which we quote as an add-on

Your confirmation

By ordering this package you confirm that you have the right to submit the sponsor’s materials and to request a review of the named individuals and entities.

Structure & Terms Review

Deal structure, terms, and investor economics. Turnaround: 7 to 10 business days.

Included in both versions

Everything in Sponsor & Track Record Check (same version)
Waterfall and recoupment structure review
Rights and reversion terms analysis
An investor priority and terms-to-watch summary

	Standard	Plus
Fee	$6,500	$8,500
Structure	Single class with one waterfall	Multi-class or layered structure, up to 3 classes or tranches
Agreements reviewed	Up to 3 (for example a term sheet, operating agreement, and offering memorandum)	Up to 8
Output	Written findings	Written findings, a negotiation-points summary, and one 45-minute walkthrough call

Not included

Drafting, redlining, or negotiating documents
Legal or tax structuring advice
Independent valuation. Economics are analyzed from the terms as submitted.
RUES scoring or asset-specific underwriting (starts at Asset-Specific Underwriting)
Agreements beyond the limits above, which we quote as an add-on

Asset-Specific Underwriting

Full category-specific underwriting. Turnaround: 10 to 14 business days.

Included in both versions

Everything in Structure & Terms Review (same version)
Full four-pillar RUES scoring for the relevant category
Category-specific sub-factor analysis for Live Ticketed IP, Licensed Media IP, Royalty & Recurring IP Streams, or Sports Teams & Clubs
Sourced, graded findings with citations

	Standard	Plus
Fee	$8,000	$10,000
Assets	One asset	Up to 3 assets, or one asset that spans an additional RUES category
RUES scoring	One category	Up to 2 categories, with a portfolio roll-up when there are multiple assets
Follow-up	Written findings	Written findings plus one 45-minute walkthrough call

Not included

Valuation, appraisal, or fairness opinion
Site visits, physical inspection, or authentication of assets
Comparables and base-rate context, questions-to-ask-the-issuer list, and investment committee formatting (start at Full Underwriting Memo)
Updates after delivery. Findings reflect the information available on the report date.
Assets or categories beyond the limits above, which we quote as an add-on

Full Underwriting Memo

A comprehensive, investment-committee-ready memo. Turnaround: 15 to 20 business days.

Included in both versions

Everything in Asset-Specific Underwriting (same version)
Comparables and base-rate context, where available
A questions-to-ask-the-issuer list
Formatting for investment committee presentation

	Standard	Plus
Fee	$15,000	$20,000
Deal scope	Single deal, single category, United States	Portfolio-level deal of up to 5 assets, or cross-border deal with up to 2 non-US jurisdictions
Comparables	Up to 5, where available	Up to 10, where available
Corrections	One round of factual corrections	Two rounds of factual corrections
Follow-up	Written memo	Written memo plus one 60-minute live investment committee Q&A session, scheduled within 10 business days of delivery

Not included

Valuation opinion or fairness opinion
Legal diligence, or review of legal compliance in any jurisdiction
Comparables beyond what is available in public and submitted sources
Assets, jurisdictions, or comparables beyond the limits above, which we quote as an add-on

Exclusions that apply to every package

These limits apply to all five packages and both versions. They repeat or point to our Terms of Service.

No advice. Reports are not investment, legal, tax, or accounting advice, and they are not credit ratings or regulated ratings. Nothing in a report is a recommendation to buy, sell, or invest (Terms, Section 6).
Your materials only. We review the materials you submit and publicly available information as of the report date. We do not independently verify your materials or audit them unless the package says so (Terms, Sections 3 and 5).
AI-assisted analysis. Reports use automated systems and artificial intelligence, and are reviewed under RainCheck’s internal quality processes before delivery. They may be incomplete or inaccurate (Terms, Section 5).
Incomplete materials. Missing or unreadable materials can limit our findings, lower the completeness assessment, or prevent us from issuing a score. Turnaround pauses until we have what we need.
No updates. We do not update a report after delivery unless your Order says so.
Your use only. A report is prepared for you. You may not share it with prospective co-investors, limited partners, issuers, sponsors, or counterparties without our written permission (Terms, Section 7).
No guarantee. A score is an analytical assessment of the information reviewed. It is not a prediction of returns or performance.