> For the complete documentation index, see [llms.txt](https://t-blocks.gitbook.io/t-blocks-documentation/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://t-blocks.gitbook.io/t-blocks-documentation/issuance-process/timeline-and-milestones.md).

# Timeline & Milestones

From signed term sheet to first close, a standard T-Blocks issuance takes between 4 and 8 weeks. The timeline varies depending on issuer documentation readiness, asset jurisdiction, and investor qualification workflows. The four phases below run sequentially and, where documentation is prepared in advance, may overlap.

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**Week 1–2 — Structuring & Documentation** Instrument type and SubFund architecture confirmed. Specific Management Regulations, private placement memorandum, issue terms, and subscription agreement drafted and executed in coordination with legal counsel.

**Week 2–4 — Infrastructure & ISIN** SubFund bank accounts established at Swissquote. ISIN application submitted and assigned. Security documentation executed where applicable. Digital rail configuration completed where elected.

**Week 3–6 — Distribution & Investor Onboarding** Placement partner mandates activated. Investor KYC and professional qualification completed. Subscription documents executed.

**Week 4–8 — First Close & Ongoing Administration** Settlement processed. First close executed. Post-close, Baker Tilly assumes ongoing bookkeeping and corporate administration, Forvis Mazars conducts the statutory audit, and investor reporting is delivered in accordance with the instrument's terms.\
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→ Begin the structuring process: tblocks.io/start-your-issuance/tblocks-issuer-form.html