Disclosure of Business Continuity Plan
BondWave LLC (“BondWave”) has developed a Disaster Recovery Plan which is reviewed on an ongoing basis. The Plan is designed to allow BondWave to quickly resume operations in the event of an Significant Business Disruptions (SBDs). A key element of the Plan is a back-up site including computers, phones, copiers, fax machines, and printers. All necessary software and back-up records are maintained at the site to facilitate servicing customers. BondWave senior management will assess the nature and severity of an SBD to determine whether operations should be moved to the back-up site.
We believe that we will be able to resume operations and continue in business under most SBD scenarios. Certain potential SBD situations which BondWave has considered are described below.
- A disruption affecting only BondWave’s main office in Wheaton, IL or a disruption affecting the building in which BondWave has it’s main office. Examples of such events would include a fire or explosion in BondWave’s offices or elsewhere in the building, a local power outage affecting BondWave’s offices, a chemical or biological alert affecting the building, or any other event which might result in the need to evacuate BondWave’s office facilities. BondWave’s response to such events would be to analyze the situation and determine whether to move operations to the back-up site. If BondWave’s senior management determines that it is safe to occupy BondWave’s offices (for example if the SBD has merely caused the loss of electrical power), BondWave would continue to conduct business from it’s main office using back-up generators; in such an event BondWave’s recovery time would be virtually instantaneous. If it is determined that it is not safe to occupy BondWave’s offices, operations would be moved to the back-up site. In such an event, we believe we would be able to resume most of our normal operations and conduct business later that day or by the next business day.
- A disruption affecting the Wheaton, IL business district or affecting the City of Wheaton, IL (possibly including the surrounding area as well). Examples of such events would include a power outage affecting the entire area, a chemical or biological alert forcing evacuation of the area, severe weather damage affecting the area (e.g. a tornado), or any other event which might result in the evacuation of BondWave’s offices. We anticipate that our response to such events would be the same as that previously described above.
- A regional disruption affecting both BondWave’s main office and the back-up facility. Such a disruption may affect the Chicago Metropolitan area, the entire State of Illinois, or possibly a multi-state area. Examples of such events would include a large-scale power outage such as that experienced in the Northeast portion of the United States in August 2003, a large-scale terrorist attack or other Act of War affecting the region, a large-scale natural disaster or pandemic. In such situations, BondWave would continue operations from either our main office or the back-up site, assuming that one or the other location is judged to be safe. If it is determined that neither location is safe to occupy, BondWave would be unable to conduct business. Should such a situation occur, BondWave would resume operations as quickly as possible.
This document is intended to generally describe the steps which BondWave would take in response to various SBD scenarios. However, due to the inherent uncertainties involved, no assurance can be given as to whether BondWave’s efforts to continue operations will be successful. This document may be modified in the future and any such updates will be promptly posted on our website at www.bondwave.com.
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