A submission claim is an auto-generated form that shows the details of the commission claim for a sale/ transaction by the agency or internal sales staff. Once the sale/ transaction meets the payment criteria, the system will generate the claim for the agency and the internal sales staff to view and to submit for invoicing.
Under a claim, agency or staff is able to check on these details:
- Last updated date
The most recent date of changes made to the claim. - OTP date
Offer to purchase date or sales date - 1st progress billing date
The date of the first billing issued out by developer to either buyer or end financier. - 1st loan disbursement date
The date when the loan is advanced or payout. - Aging
The duration between the first progress billing and the first loan disbursement of the unit sold. - Developer
The developer’s company name - Project
The project that the developer entrusts the agency or internal sales staff to sell. - Unit no.
The sold property unit number - Purchaser name
The property buyer’s name - SPA price
The official selling price stated in the Sales and Purchase Agreement. - Nett selling price
The price after deduction of discounts, rebates, loan and legal fee (if any) - Agent
The agent that the developer entrusts to sell. - Staff
The internal sales staff that the developer entrusts to sell. - Progress claim
The payment stage that this claim falls under. - Commission
The nett commission claim amount payable by developer to the agency or sales staff for the unit sold - SST (6%) if any
The standard 6% service tax that is charged for the unit sold. - Total claim
The total commission claim amount payable by developer to the agency or sales staff for the unit sold.
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