A retro claim is an auto-generated form that shows the compilation of all sales that entitle for bonus commission within a sales cycle.
Once your sales representative closes a certain number of sales or reaches a certain sales revenue benchmarks within sales cycle, he or she will earn an additional bonus commission for all the sales closed within that period. The system will generate a retro claim for invoicing.
Under a retro 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.