In 2001, the then FA President Lydia Evakise and her executive bureau realized that most of post convention financial misunderstandings and disagreements between host chapters and the national organization were caused by the absence of clear-cut and mutually acceptable rules regarding convention finances. The Bureau concluded that most, if not all, of these problems would be resolved if both parties agreed on mutually acceptable financial terms prior to the convention - terms that would be spelled out in a duly signed contract.
The then Vice President, Dibussi Tande, was commissioned by Evakise to come up with a draft contract spelling out the financial rights and obligations of both Fako America and the host chapter. After review of the draft by the Executive Bureau, a final document titled the President signed off on a final document titled: “Financial Modalities, Rights and Obligations regarding the hosting of Fako America Annual Conventions.”
For a variety of reasons, the document was not used in Houston and Atlanta. However, during the 2003 convention in Chicago, it served as the basis for all financial agreements between Fako Illinois and Fako America. Similarly all financial transactions between Fako Dallas and Fako America pertaining to the 10th anniversary convention are based on this document, which the host chapter found acceptable.
Without doubt, this document is one more step towards harmonizing and documenting FA practices of the past ten years – a policy that will definitely spread to other areas of FA as administrations come and go.