When you’re reviewing your fundraising documents, you might notice “TBC” (short for To Be Confirmed) in places such as dates, chairperson names, or other deal details. Don’t worry - this is completely normal.
Why “TBC” appears
Your documents are in draft form until the funding round is locked for final signatures. At this stage, your deal is still technically in the negotiation phase, meaning some details could still change (for example, the date of signing or who chairs the board meeting).
When “TBC” gets replaced
All “TBC” fields are automatically updated when the round is finalised - that is, when:
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All parties have signed, and
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The round has officially closed.
At that point:
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Dates are updated to reflect the final signing (closure) date
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Chairperson details (usually the Founder) are inserted into the board minutes
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The documents are then locked and become the official, final versions
Example
In your Board Minutes, you might see:
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“Date: TBC”
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“Chairperson: TBC”
Once the last person signs, the system automatically fills in:
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The final closure date
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Your name as Chairperson
This ensures your signed documents always reflect the most accurate and up-to-date information.
