Approval Note – A summary of the activity

A lease is a contractual agreement under which a property owner allows a tenant to use the property for a specified period of time and rent. In commercial lease, apart from the rent component revenue is also shared by the customer. A lease can be of type mall or corporate. Document types move from LOI (letter of intent)---> Term Sheet --->Lease deed for Lease Type – Mall.

This activity is used to generate approval note number for Scheme code of type – Mall lease. A lease number for the property is generated on approval of the approval note number. In this activity the details of the property on lease, minimum guarantee / revenue share details, deposit details, deposit payment schedules, financials and special negotiated deviations are provided.

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