An open standard · free to use
Early-stage capital that resolves.
SAFR™ (Simple Agreement for Future Redemption) is a free, open instrument. The claim grows on a fixed schedule and settles in cash on a quarterly cadence, or converts to equity. No maturity date to default against. A cap, so it cannot run away. The reporting tools are included.
This certifies that in exchange for the payment by Cedar Lane Angels LLC (the “Holder”) of $50,000 (the “Purchase Amount”), Northwind Instruments, Inc., a Delaware corporation (the “Company”), issues to the Holder the rights set forth in the SAFR™ canonical form, version 0.06.
The Holder’s claim equals the Unreturned Purchase Amount times the Multiple for the current month, beginning at 1.00× and rising on the published schedule to a cap of 2.50×. The Company settles from a budget it declares each quarter, or the Holder may convert. Zero in any quarter is not default.
Pinned to the SAFR™ Reporting Standard, major version 0, by content hash. Full terms in the downloaded document.
Fills the canonical form in your browser. The draft download happens locally; nothing is sent unless you ask us to email it. The blank agreement, the Reporting Standard, and the free reporting tools are linked below.
What it is
A claim that resolves, on a cadence both sides can see.
The convertible note solved nothing about time. The SAFE solved time by deleting it, and stranded everyone whose company never priced a round. SAFR ties resolution to what a company can verifiably afford, reported every quarter.
The convertible note
Comes due on a date. Miss it, and everyone is in a default fight nobody wins.
Fails on timeThe SAFE
Deleted the date. But if no priced round ever comes, it never converts and never resolves.
Never resolvesSAFR
Keeps a schedule, but pays from what the company declares it can afford each quarter. Capped, and it always resolves.
Resolves on capacityWho it’s for
Find your path in.
Raise on terms you can clear
A forcing function you can live with: time to get reporting in order, then a budget you set each quarter. Conversion lands in common, never preferred.
For founders ›Investors & institutionsA claim you can watch, and get back
For angels, angel groups, accelerators, and family offices: a real path to resolution and a quarterly, verified look at the company. Ask for it in your next check.
For investors ›Hold a SAFE, note, or CISA?Graduate it into SAFR
See how each early-stage instrument compares, and how an existing position crosses onto these rails at par once a company has four clean quarters.
Compare & graduate ›The standard
Open, versioned, and pinned.
SAFR is not a product. It is a canonical instrument and a public reporting standard, free to adopt and adapt under an open license. Each executed agreement pins the standard by version and content hash, so the rules are fixed the day it is signed.
Get started
Free to use.
Take the agreement and the tools at no cost. The leverage is not a paywall, it is the standard becoming common. Helpful services live in the Marketplace, and they are opt-in.
The standout
Draft a SAFR in your browser
Fill in your company, your investor, and the amount, and get a completed agreement to download or send to counsel. It is the on-ramp to the free reporting feed, not a trap.
Demand side
Request SAFR from a company
Invested in a company, or about to be? Send an invitation to issue on SAFR. We pass along a short, neutral explainer; the decision stays theirs.
No gate
Download the blank agreement
The editable canonical form, free, no email required. It carries its own terms of use and points to the Standard and the free tools.
The research
Read the whitepaper
The SAFE Zombie Problem: what actually happens to early-stage SAFEs, and why the unpriced middle needs an instrument that resolves. We will email you the full report.
Questions
Common questions.
A fuller FAQ is on the way. A few of the basics for now.