Approval Note
|
|
|
|
|
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.
Select the “Approval Note” activity under the “Leasing” business component.
The “Approval Note” page appears.
- Clicking this icon available near certain fields takes you to the help
page of the respective field.
Enter the following in the header:
|
Scheme Code |
The code identifying the scheme for which the approval note is to be generated. |
The system displays the following:
|
Mall Name |
The name of the mall for which the approval note is to be generated. |
Enter the following in the header:
|
Revision No |
Use the drop-down list box to specify the revision number of the approval note. |
|
Brand Code |
The code identifying the brand of the customer. |
The system displays the following:
|
Brand Name |
The name of the brand. |
|
Brand Category |
The category to which the brand belongs. |
Enter the following in the header:
|
Customer Code |
The code identifying the customer for whom the approval note is to be generated. |
The system displays the following:
|
Customer Name |
The name of the customer. |
Enter the following in the header:
|
Permissible Use |
The permitted usage of the property. |
|
Criteria |
Use the drop-down list box to specify the criteria of lease. The combo is loaded with options “M.G”, “Higher”, “Lower”, “M.G + Revenue” and “Pure Revenue”. |
|
Lease Term(Years) |
The lease term of the property in terms of years. Lease Term to be specified as Year#Month#Days |
|
Options(Not Permitted) |
The usages which are not permitted in the property. |
|
Site Handover Date |
The date on which the site was handed over to the customer. |
|
Fitout Period(Days) |
The number of days required for providing the fitout |
|
Fitout Issuance Date |
The date on which the fitout is issued to the customer. |
|
Lease Commencement Date |
The lease commencement date of the property. |
|
Rent Free Period(Days) |
The number of days during which the property is rent free. |
|
Lock-In Period(Amount) |
The lease amount for the lock-in period. |
|
Expiry Date |
The expiry date of lease. |
|
Broker Negotiation By |
The code identifying the employee who brought in the broker. |
|
Broker Code |
The code identifying the broker who brought in the customer. |
The system displays the following:
|
Broker Name |
The name of the broker. |
|
Contact Person |
The contact person on the broker side. |
Enter the following in the header:
|
Reconciliation of Revenue Share |
Use the drop-down list box to specify the revenue sharing reconciliation type. The combo is loaded with options “RS(Monthly)”, “RS(Quarterly),”RS(Half-Yearly” and “RS(Yearly”. |
This page has 6 tabs. They are:
5. Financials
6. Special Negotiated Deviations
This tab is displayed by default on launch of the page. This tab is used to specify the details of the property taken on lease by the customer.
Enter the following in the multiline:
|
Shop No |
The number identifying the property taken on lease by the customer. |
The system displays the following in the multiline:
|
Floor |
The floor in which the property exists. |
|
Block |
The block in which the property exists. |
|
Tower |
The tower to which the property belongs. |
Note: Floor, Block and Tower details can be modified.
|
Property Type |
Indicates the type of property. |
|
Budget sqft |
The budgeted square feet of the property. |
|
Actual sqft |
The actual square feet of the property. |
|
Leaseable Area |
The leaseable area of the property. |
|
Billable Area |
The billable area of the property. |
Enter the following in the multiline:
|
Remarks |
Any remarks regarding the property lease. |
The system displays the following in the multiline:
|
Rent Commencement Date |
The rent commencement date of the property. |
Select the “M.G /Revenue Share Details” tab in the “Approval Note” page.
The “M.G /Revenue Share Details” tab appears.
This tab is used to specify the minimum guarantee or the revenue sharing details of the customer.
Enter the following in the multiline:
|
Source |
Use the drop-down list box to specify the source of lease. The combo is loaded with options based on the “Criteria” selected in the header. |
|
Basis |
Use the drop-down list box to specify the basis for the calculation of MG amount or Revenue Share. The combo is loaded with options “Day”, “Month” and “Year”. |
|
Unit |
The number of days/month/year. |
The system displays the following in the multiline:
|
From Date |
The revenue sharing commencement date. |
|
To Date |
The date until which the MG amount/revenue sharing is applicable. |
Note: The “To Date” is displayed on clicking “Save Draft” button. To Date = From Date + Unit (for first row in the multiline). For the subsequent rows To Date = To Date of the previous row +1.
Enter the following in the multiline:
|
Value |
The value for revenue share or minimum guarantee. |
|
Operator |
Use the drop-down list box to specify whether the value should be taken or the average of years should be taken. |
|
Average of Year(s) |
Use the drop-down list box to specify the average of years of MG amount billed to the customer. |
|
Average of Year(s) % |
The percentage on the average of years of MG amount billed to the customer. |
|
Sales Operator |
Use the drop-down list box to specify whether the value should be taken or the average of sales of the customer should be taken. |
|
Sales of Year(s) |
Use the drop-down list box to specify the average of sales of the customer. |
|
Sales of Year(s) % |
The percentage on the average of sales of the customer. |
|
Remarks |
Any remarks regarding the MG or revenue share. |
Select the “Deposit Details” tab in the “Approval Note” page.
The “Deposit Details” tab appears.
This tab is used to specify the deposit details of the lease.
Enter the following in the multiline:
|
Deposit Code |
The code identifying the deposit. |
|
Component |
Use the drop-down list box to specify the component for which the deposit is to be done by the customer. |
|
No of Months |
The number of months in which the deposit has to be paid by the customer. |
|
Rate/Sqft |
The rate per square feet of the property taken on lease. |
|
Amount |
The deposit amount that has to be paid by the customer. |
|
Pay Plan Code |
The pay plan code for the deposit. |
|
Remarks |
Any remarks regarding the deposit. |
Select the “Deposit Payment Schedule” tab in the “Approval Note” page.
The “Deposit Payment Schedule” tab appears.
This tab is used to specify the payment schedule for the milestone-deposit code combination.
Enter the following in the multiline:
|
Milestone |
Use the drop-down list box to specify the milestone for the deposit payment. The combo is loaded with options “LOI”, “LCD”, “Term Sheet”,” Hand Over” and “Others”. |
|
Deposit Code |
Use the drop-down list box to specify the deposit code for the milestone. The combo is loaded with the deposit codes provided in the “Deposit Details” tab. |
|
No of Months |
The number of months by which the amount has to be paid by the customer for the milestone-deposit code combination. |
|
Amount |
The deposit amount that has to be paid by the customer for the milestone-deposit code combination. |
|
Target Date |
The target date for the deposit payment for the milestone-deposit code combination. |
|
Remarks |
Any remarks regarding the deposit payment schedule. |
Select the “Financials” tab in the “Approval Note” page.
The “Financials” tab appears.
This tab is used to record the financial details of the property.
Enter the following in the multiline:
|
Property |
Use the drop-down list box to specify the property. The combo is loaded with the properties of the scheme code entered in the header. |
|
Component |
Use the drop-down list box to specify the component code applicable for the property. The combo is loaded with the component codes applicable for the scheme code. |
|
Mall Floor Avg/Sqft |
The average rate per square feet of the mall floor. |
|
Budget Rate/Sqft |
The budget rate per square feet. |
|
Negotiated Rate/Sqft |
The negotiated rate per square feet. |
|
Revenue Share (%) |
The percentage of revenue shared by the customer. |
|
Est Rate Of Revenue Share |
The estimated rate of revenue shared by the customer. |
The system displays the following in the multiline:
|
Variance/Sqft (to budget) |
The variance rate per square feet. Variance/Sqft (to budget) = Negotiated Rate/Sqft - Budget Rate/Sqft |
Enter the following in the multiline:
|
Remarks |
Any remarks regarding the financials. |
Select the “Special Negotiated Deviations” tab in the “Approval Note” page.
The “Special Negotiated Deviations” tab appears.
This tab allows you to record the special negotiated deviations of the approval note.
Enter the following in the multiline:
|
Category |
Use the drop-down list box to specify the category of deviation. |
|
Remarks |
Any remarks regarding the category. |
|
Cost By Lessor(Rs) |
The cost borne by the lessor for the special deviations. |
|
Cost By Lessee(Rs) |
The cost borne by the lessee for the special deviations. |
Enter the following:
|
Remarks |
Any remarks regarding the special deviations. |
Click the “Save Draft” button to save the approval note details.
The system displays the following in the header:
|
Approval Note No |
The system generates and displays the approval note number. |
|
Status |
The status of the approval number which will be “Draft”. |
Click the “Submit” button to submit the approval note details.
The system updates the status of the approval note number to “Submitted”.
The system displays the following in the header:
|
Work Flow Status |
The status of the document as per Work flow Applicability. The Work flow status will be visible only if "Workflow Applicability" for the transaction is set to Yes in Company Parameter Setup component. |
Click the “Approve” button to approve the approval note number.
The system displays the following in the header:
|
Lease No |
The system generates and displays the lease number in Fresh status. |
Note: Based on the expiry date of lease, the status of the lease number will be updated as Expired.
|
Lease Value |
The system displays the lease value based on the data entered in the Property Details and Financials tab. |
The system displays the following below the multiline:
|
Comments For Approval |
The comments regarding the lease approval. |
|
Approval Levels |
The level of approval. |
Click the “Return” button to return the approval note number.
The status of the approval note will be updated as “Draft”.
The system displays the following below the multiline:
|
Comments For Return |
The comments regarding the returning of the approval note number. |
Click the “Short Close” button to short close the approval note number.
The status of the approval note will be updated as “Short Closed”.
Select from the drop-down list box:
|
Customer Copy |
Use the drop-down list box to specify the type of report to be viewed. |
Click the “View Report” button to view the report.
To proceed, carry out the following
Select the “Rent Schedule” link to specify the rent schedule details of the property.
Select the “Attach Notes” link to specify additional details regarding the approval note.