Managing draw requests

You can edit draw schedule and funding sources to manage draw requests.

Note: Ensure that:

• TI/LC Draw Schedule items are available on the draw schedule.

• Property and a unit are added

• Lease is applied to a unit TI/LC allowances mapped to draw schedule items

The following sections provide the steps to update the draw schedule to manage draw requests.

• Entering a draw request

• Updating Current Adjustments

• Managing draw requests

To edit a draw, perform the following steps.

1.

At the top-left of the page, click Portfolio.

2.

On the Portfolio page, click View or Deal ID for the deal for which you want to make updates to the draw.

3.

On the left navigation menu, click Draw Management.

Entering a draw request

4.

On the Draw Management page, click Edit .

5.

On the draws details page, in the Draw Schedule tab, click Edit.

6.

In the Uses section, in the Current Draw Request column, enter the amount that you want to request.

Enter additional values in Current Adjustments, Stored Materials and Retainage as applicable.

7.

Click Auto-Balance and select Funding.

8.

In Sources, the updated amount is automatically populated as defined by the Creating a funding rule.

9.

Click Save.

A message is displayed indicating that the draw amount is updated successfully.

Note: You can redistribute the funding amount between the funding sources, in the Sources section, by updating the values in the Funding amount column.

Updating Current Adjustments

10.

On the draw details page, in the Draw Schedule tab, click Edit.

11.

In the Uses section, in the Current Adjustment, enter the amount on the line item where you want to add amount and deduct the same amount for another line item.

Note: You can update current adjustment values in such a way that the total value must be zero. For example, if we add $50 for one line item, for another line item it must be -$50.

12.

Click Save.

A message is displayed indicating that the draw amounts are successfully updated.

Requesting a draw for Tenant Improvements and Lease Commission

13.

To request a draw amount from TI/LC line items, in the Current Draw Request column, select the amount next to Tenant /Lease commission.

A Tenant Improvements/Lease commission page is displayed with the associated lease details that have been mapped to the line item. For more information, see Creating a lease for a unit.

14.

In the Current Draw column, enter the amount that you want to draw, and click Save.

The draw schedule is displayed with the updated draw request amount.