To capture the process of transferring of property from a customer to another 3rd party .
Introduction
A customer can decide to transfer a property to a 3rd party based on agreement
The agreement or consideration may not be known to the company
Only property that has been fully paid can be transferred to a 3rd party since the customer cannot lay claim to ownership of the property .
Every company has its policy and processes on 3rd party that differ from company to company.
For example, some company will require payment of fees by the customer while others will not
In some companies, it is the 3rd party that will pay any resultant transfer fees
The advantage is that any company 3rd part transfer processes and policies can be specifically defined to suit the company operations
Process
This process is usually initiated by the client service (CSO) officer that relates with the customer as defined in workflow approval.
The process and sequence unique for each company can be defined .
All open fully paid contracts are listed at the completed contract payment listing while the customer will have a 3-option decision of
Allocation
3rd Party Transfer
Customer Refunds
Go to Real Estate >> Transaction>> Completed Contract payments>> Completed Contract Payment Listing
The CSO activate the 3rd party transfer view button and the 3rd Party Transfer screen appears
Relevant information about the 3rd party is inputted to the 3rd party transfer screen. Where 3rd party is an existing customer, the extract button should be activated to auto-populate the relevant fields
On completion, transaction is to be submitted for processing
At final approval, the transaction is listed at 3rd Party Transfer
Open 3rd Party Transfer
Go to Real Estate >> Transaction>> Completed Contract payments>> 3rd Party Transfer
3rd party transfer listing is displayed
The status of transaction is open for transfer fee. This is relevant where transfer fee is payable by the customer as condition
The CSO activities the view button and 3rd Party Transfer Fee Opens
3rd party listing
3rd Party Transfer Fee
Once the view button at the open 3rd party listing is activated , the 3rd Party Transfer Screen will open for the completion of the CSO.
The CSO completes the relevant field as shown below and sends for approval.
At final approval, systems automatically issue debit notes against the customer while the debit note document is sent by email to the customer.
The status of the contract at the 3rd party listing changes to Transfer Fee Payment in Progress
Once Payment is made for the fees, status will automatically b changed to Open for Transfer
Where the quantity under transfer is more than one , unit, there is need to match any fee paid by the customer to a specifically transfer series using the Fee Matching Screen
Go to Real Estate >> Transaction>> Completed Contract payments>>Fee Matching Listing
3rd Party Fee
Open for Transfer Documentation
Once Payment is made for the fees, status of the contract will automatically be changed to Open for Transfer.
The Workflow will be defined in line with the company documentation process.
The relevant Officer will initiate the Transfer documentation screen
At final approval, system automatically creates a new customer ID as well as Contract ID for the 3rd party
