FairFund Ireland is a company registered in the Republic of Ireland as an unlimited liability company, which holds an exclusive service agreement to act as the sole entity empowered to raise funds for the Risk Mitigation Reserve Trust under the control of the Federation of FairFund Foundations. All capital raised by FairFund Ireland must be paid direct from its source directly into accounts of the Federation. The Plenary Court shall agree with the Executive Court the annual budget, with allocations for costs and services to FairFund Ireland. FairFund Ireland shall be totally reliant on the Federation for its income and agreed profit margins and excluded from generating income from any other source. The Federation accepts no third party liabilities and all assets vested into the Federation by FairFund Ireland are held in perpetual trust by arrangement with the Plenary Court of Governors. Capital is invested and assets held by an institutional custodian and administered by an institutional administrator.
FairFund Ireland promotes the objectives and ethos of the Federation by meeting individuals or small groups of interested parties normally introduced through friends of the Federation classified as Ambassadors or Interlocutors. (Neither title having any legal liability to bind the Federation.) Since the Federation is a non-commercial structure it does not give accounts or services to entities which are not members of the Federation.
A Member may make application to act as a Sponsor of a nominated project always subject to the granting of a Concession Licence by the Executive Court of Governors. A Concession Licence permits the design, build and commissioning of an approved project over a maximum term of five years and remains under RMRT cover for the life of any related medium to long term funding from the Private or Public sectors.
Approved projects are vested into a Special Purpose Vehicle for each project irrespective of its location. The SPVs are Irish based and all guaranteed funding for them is distributed through the international banking network. The SPVs are fully owned by FairFund Ireland.