What KYC and onboarding actually look like for a verified GPU buyer.

Most procurement teams meet a verification process the way they meet a customs form, as a tax on getting to the thing they actually want. That framing is wrong for a forward market. On Rillor, the verification you go through is not a gate in front of the product. It is the product. The reason a fixed price on a GB300 NVL72 rack, with physical delivery eighteen months out, is worth committing real capital to, is that the counterparty on the other side has cleared the same bar you did, the deposit sits with a neutral escrow agent rather than the seller's treasury, and the contract is enforceable because both sides are real, identified, delivery-capable entities. Strip out the verification and you are back to a group chat and a wire and a prayer.

This piece walks the onboarding end to end, in the order you will actually encounter it, so that a first-time institutional buyer or a procurement lead arrives prepared. We will cover who qualifies for an invitation, what entity documents a Delaware C-Corp counterparty expects from you, why the end customer of record is captured before anything is priced, how the independent escrow agent and the ten percent execution deposit fit together, and exactly what is asked at quote versus signup versus full KYC so nothing is requested twice. The goal is simple: by the time your contract is bound, the only surprise should be how little drama there was.

Access is invite only because the market is vetted, not because it is early

The first thing to understand is what an invitation actually signals. Rillor is invite only, and that is a statement about the floor, not the ceiling. It is not a beta cohort, a waitlist you sit in until the product matures, or a soft launch with the rough edges still on. The marketplace and the Rillor Compute Index are both operating today. The invitation exists so that everyone on the book is a known quantity: an entity that can be identified, can take physical delivery, and can fund a deposit at execution.

What qualifies a buyer for an invitation is mostly a question of seriousness and standing. The typical invited buyer is a tier-2 cloud provider planning capacity twelve to twenty-four months out, a sovereign or national AI program, an enterprise running a multi-rack buildout, or a fund or financier holding compute exposure it wants to manage against real delivery. The common thread is that these are institutions that intend to take delivery of complete OEM GPU systems, not speculators looking for a cash-settled position. Rillor's physical-only forwards are uninteresting to anyone who does not actually want the hardware, which is by design.

The broader context here matters. The market for AI compute is not a frontier experiment. GPU-as-a-Service alone is projected to grow from roughly USD 5.73 billion in 2025 to USD 7.38 billion in 2026, on its way to USD 26.09 billion by 2031. That is a real, fast-compounding market with real counterparties and real balance-sheet decisions behind every rack. A forward market for the underlying hardware is a natural piece of infrastructure for a market that size. If you want the longer argument for why a forward market beats a waitlist, we made it separately in why serious GPU buyers need a forward market, not a waitlist. For the practical question of locking capacity ahead of a buildout, read this if you are procuring B200 systems in 2026 is the companion read.

Entity verification, and what a Delaware C-Corp counterparty expects from you

Rillor is a Delaware C-Corp, and it transacts with you as one institution to another. That means the verification is Know Your Business, not just Know Your Customer. KYC for an individual confirms a person. KYB confirms a company: its legal existence, its standing, its ownership, and its control. The distinction is worth holding onto, because the documents differ and because a procurement lead who shows up expecting a passport scan and nothing else will be surprised by the corporate paperwork.

Here is what is collected, and why each item is there. None of it is unusual for any institutional counterparty relationship; it is the same shape of diligence a bank, a payment processor, or a serious supplier runs before extending credit or binding a contract.

The beneficial-owner step is the one teams most often underestimate. FinCEN's Customer Due Diligence rule, in full effect since 2018 and sometimes called the Beneficial Ownership rule, requires institutions to identify and verify the ultimate beneficial owners of a legal entity. Practically, that means if a single individual owns more than 25 percent of your company, we need to identify and verify that person, including proof of address. For a straightforward operating company this is fast. For a structure with holding companies stacked above it, it is worth assembling the ownership chart before you start, because that is the item most likely to add a day.

A note on speed: the cleaner your corporate records, the faster this goes. A buyer who arrives with incorporation documents, a good-standing certificate dated within a reasonable window, a clean cap table, and a named authorized signer can clear entity verification in the time it takes to review the files. A buyer who has to go pull a registry extract mid-process will wait on the registry, not on us.

Why the end customer of record is captured before anything is priced

This is the part of onboarding most specific to GPU hardware, and the part worth understanding deeply, because it explains a question that catches people off guard: why does Rillor ask who the system is ultimately for, before quoting a price?

The answer is NVIDIA channel compliance. The OEMs that build these systems, Supermicro, Gigabyte, Dell, HPE, Lenovo ISG, ASRock Rack, Aivres, and the rest, sell through NVIDIA's channel structure, and NVIDIA is the authority that governs it. Under the NVIDIA Partner Network terms, partners must provide all end-user support for the solutions they assemble containing NVIDIA products, must keep their profile data current, must share sales data on request, and hold access at NVIDIA's sole discretion, with NVIDIA reserving the right to terminate for non-compliance. The channel is built around knowing where the hardware actually lands and who supports it.

That is why Rillor captures the end customer of record up front. When a forward is bound, the OEM's NVIDIA business unit needs to be able to confirm that the ultimate destination is a legitimate end customer in good standing before committing the allocation. Capturing it at the start, rather than scrambling for it at delivery, is the difference between a clean handoff and a system that builds but cannot ship. It also matters for the most powerful feature of a Rillor forward: the ability to transfer a contract to another KYC'd buyer before delivery. That transfer requires Rillor and OEM approval precisely because the end customer of record changes, and the channel has to re-confirm the new destination. If you want the mechanics of channel handling clause by clause, the anatomy of a Rillor forward contract walks the SKU, deposit, escrow, settlement, and channel-of-record fields in order.

To be concrete about what is being shipped, this is real hardware with real logistics behind it. A single NVIDIA DGX B200 carries eight Blackwell GPUs with 1,440 GB of total HBM3e memory, delivers 144 PFLOPS of FP4 and 72 PFLOPS of FP8 Tensor Core performance, and draws roughly 14.3 kW in a 10U chassis. A GB300 NVL72 rack is an order of magnitude more in power and complexity, a liquid-cooled, NVLink5-connected, 72-GPU system that arrives as a single delivery obligation. When the channel asks where this is going, it is not a formality. It is the supply chain making sure the destination can house and operate the thing.

The independent escrow agent and how the deposit flows

Once your entity is verified and the end customer of record is on file, the money mechanics are clean. Rillor's economics are deliberately simple: a 2 percent all-in take rate, split as 1 percent from the buyer and 1 percent from the seller, plus an escrow fee of roughly USD 1,000 per contract. There are no surprise fees layered on top.

The deposit is where verification pays off in cash terms. At execution, the buyer funds a 10 percent deposit, and that deposit does not go to the seller. It goes to an independent escrow agent. An escrow agent is a neutral third party that holds the deposit and serves neither the buyer nor the seller, releasing funds only once the conditions in the agreement are satisfied. On a forward, that means the deposit sits in escrow from execution until delivery, the balance is paid at delivery, and the escrow agent releases to the seller only when delivery conditions are met.

This structure is what makes a forward enforceable in both directions. The buyer's deposit gives the seller confidence the commitment is real, while the neutrality of the escrow agent means the buyer's money is never exposed to the seller's balance sheet before delivery actually happens. On the other side, sellers post a performance bond, so a buyer's risk that the system simply never arrives is backstopped too. Defaults are handled symmetrically: a buyer who walks loses the deposit per contract terms, and a seller who fails to deliver answers to the bond. The deposit-to-release flow, and what happens on either kind of default, is set out field by field in the anatomy of a Rillor forward contract.

One framing worth correcting: the forward price is not a discount you negotiated by being early. It is standard channel pricing fixed forward in time. The deposit and escrow are not a financing trick. They are the mechanism that lets two verified parties commit to a future delivery at a price both can plan around.

What is collected at quote versus signup versus KYC

The most common onboarding frustration in any institutional process is being asked for the same information three times. Rillor's flow is built so that does not happen. Each stage collects a distinct layer, and later stages never re-ask what an earlier one already captured.

At quote

When you request pricing on a SKU, you are telling the market what you want, not proving who you are. Quote captures the SKU, quantity, target delivery window, and receiving region. That is enough for Rillor to return indicative pricing, a lead time, and a delivery window. You can request a quote on any RIL SKU, from a single RIL-H200-2T node up to a RIL-NVL72-GB300 rack, without having completed full verification first. Quote is intentionally light so you can price-discover before committing to paperwork.

At signup

Signup is where the entity is established and verified. This is the KYB layer described above: the corporate documents, good standing, ownership, beneficial owners, and authorized signer. The funnel is confirm-first by design. You provide entity details, receive an email link, set your password, and land in your dashboard. Signup verifies the company once. It does not ask for end-user specifics, because those belong to the next layer.

In KYC

The KYC record is the durable file that holds end-user and beneficial-owner detail, including the end customer of record needed for channel compliance. This is the deliberate separation: end-user details live in the KYC record, not in the quote or signup forms, so that once they are on file they are reused on every subsequent contract rather than re-collected each time. Bind your second forward, your fifth, your twentieth, and the end-customer-of-record and beneficial-owner information is already there. You confirm or update it, you do not re-enter it.

The practical payoff is that your first contract carries the full weight of verification, and every contract after it is fast. That is the intended shape of a relationship with a market you transact in repeatedly, not a one-time purchase.

Counterparty transparency: both sides are verified before a forward binds

It is worth stating plainly what you get in return for your own verification, because it is the whole point. Every buyer and every seller on Rillor is verified before a forward is bound. The diligence you cleared is the same diligence the party on the other side cleared. KYB exists precisely to confirm a business's legal status, its ownership including ultimate beneficial owners, and its risk profile before access is granted, and it applies to everyone on the book.

This is what turns a forward from a handshake into an instrument. The CFTC defines a forward contract as a cash transaction, common across commodity merchandising, in which a commercial buyer and seller agree on delivery of a specified quality and quantity of goods at a specified future date, with terms more personalized than a standardized future. The defining feature, in the regulator's own framing, is that the contract specifies to whom delivery is made, where an exchange-traded future leaves the delivery counterparty to the clearing house and usually settles in cash rather than physically. Rillor's contracts are bilateral OTC forwards with intent of physical delivery, which is what places them under the CFTC's forward-contract exclusion rather than treating them as futures. None of that works if you do not know precisely who your counterparty is, which is why mutual verification is upstream of everything.

Rillor sits in the middle as the neutral operator, and it also acts as a seller and underwriter that seeds liquidity, so there is depth in the book from the start. But neutral operation and verification of both sides are the load-bearing commitments. You are not trusting a screen name. You are facing an identified, delivery-capable, channel-compliant institution, and so are they.

What changes the day after you are onboarded

Onboarding is a one-time event with a standing payoff. Once you are verified, three things become true and stay true.

First, you have standing access to live forward curves. The marketplace shows real forward pricing across the SKU catalog, and you can watch the curve move rather than asking for a fresh quote every time you want a read on the market. The same active contracts that price the curve also feed the Rillor Compute Index, the 30-day rolling-blend forward price per SKU that Rillor owns and licenses to exchanges, funds, and researchers as a settlement feed.

Second, you can request indicative pricing on any RIL SKU on demand, without restarting verification. Browse the full SKU catalog, and request a quote on whatever you are planning, from a RIL-H100-2T or RIL-MI355X-2T node to a RIL-NVL36-GB200 or RIL-NVL72-GB300 rack-scale system. Your entity is known, your end-customer-of-record is on file, so the path from a price you like to a bound contract is short.

Third, you can act on the curve. You can lock a forward at a fixed price, transfer a contract you hold to another KYC'd buyer before delivery with Rillor and OEM approval, and plan a multi-rack, multi-OEM buildout against transparent pricing instead of negotiating each line one-off. The first day is paperwork. Every day after is access. If you want the buyer's-eye view of how all of this fits a real procurement plan, for buyers is the place to start.