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.
The duration between the first progress billing and the first loan disbursement of the unit sold.
The developer’s company name
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)
The agent that the developer entrusts to sell.
The internal sales staff that the developer entrusts to sell.
- Progress claim
The payment stage that this claim falls under.
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.