What are a PA and a VTA?
The PA and the VTA are substantially identical arrangements whereby the voting rights of the foreign shareholder are transferred to cleared US citizens approved by DSS. Both Agreements provide for the exercise of all prerogatives of ownership by the Trustees or Proxy Holders with complete freedom to act independently from the foreign stockholder, with the exception of the areas identified in NISPOM, paragraph 2-305. Neither Agreement imposes restrictions on access to classified information or restricts the company’s ability to compete for classified contracts.
Related Questions
- Can a company be collocated with its foreign parent organization or one of its affiliates and still be cleared through the auspices of a PA, VTA, or SSA?
- Once the SSA, PA or VTA is executed is the company required to prepare procedures for implementing the agreement?
- Where can I obtain electronic copies of the draft SCA, SSA, PA or VTA?
