Lease and Owned Property Contract Management User Guide

Transcription

1 IBM TRIRIGA Version 10.2 Lease and Owned Property Contract Management User Guide Copyright IBM Corp i

2 Note Before using this information and the product it supports, read the information in Notices on page 251. This edition applies to version 10, release 2, modification 0 of IBM TRIRIGA and to all subsequent releases and modifications until otherwise indicated in new editions. Copyright International Business Machines Corporation All rights reserved. US Government Users Restricted Rights - Use, duplication or disclosure restricted by GSA ADP Schedule Contract with IBM Corp.

3 Contents ABOUT THIS GUIDE... 1 Conventions... 1 Intended Audience... 1 Prerequisites... 1 Support CONTRACT MANAGEMENT... 2 Real Estate Contract Management... 2 Asset Lease Contract Management CONTRACT HOME PORTALS... 4 Real Estate Contract Home Portals... 4 Application Administrator Portal... 4 Real Estate Contract Manager Portal... 5 Lease Accounting Manager (Lease Accountant) Portal... 5 Asset Lease Contract Home Portals... 5 Asset Manager Portal... 6 Lease Accounting Manager (Lease Accountant) Portal CONTRACT SETUP... 7 Real Estate Contract Setup... 7 Templates... 7 Classifications Lists Locations Contacts Application Settings Configure for OSCRE Interface Asset Lease Contract Setup Templates Classifications Lists Locations Contacts Copyright IBM Corporation 2011.

4 4. CONTRACT PROCESS Real Estate Contract Abstract Process Lease Abstract Lease Abstract Clause Common Elements Lease Abstract Process Common Elements Lease Abstract Process OSCRE Interface Real Estate Lease Owned Property (Fee) Agreements Asset Lease Contract Process Asset Lease CONTRACT ADMINISTRATION Real Estate Contract Administration Notifications RE Data Change Request Lease Assumption Change Request Asset Lease Contract Administration Notifications Lease Assumption Change Request PAYMENT PROCESSING Real Estate Payment Processing Payables Receivables Asset Lease Payment Processing Payables Receivables REPORTS Real Estate Reports Abstracts by Abstractor Accounts Payable History Contract Payment Details Report Contract Payment Summary Report Contract Summary Report Future Rent Obligations Detail Report Lease Abstract Abstracts for Review Lease Abstract My Abstracts Lease Critical Dates Report Line Item Master Report List of Lease Abstracts Report Option Master Report Owned Property Record and Owned Property Abstract Reports Payment Reconciliation Invoice Percentage Rent Report Portfolio Summary Report Process Payment Summary Real Estate Invoice, RE Invoice Record, RE Invoice Summary Bulk Print Real Estate Lease Record and Real Estate Lease Abstract Reports Tenant Payment Aging Report

5 INDEX NOTICES

6 About This Guide This guide describes the procedures for operating, modifying, and maintaining the Real Estate Contract Management application. The guide contains descriptions of the various tabs and their functions. Conventions This document uses the following conventions to ensure that it is as easy to read and understand as possible: Note A Note provides important information that you should know in addition to the standard details. Often, notes are used to make you aware of the results of actions. Tip A Tip adds insightful information that may help you use the system better. Attention An Attention notice indicates the possibility of damage to a program, device, system, or data. Intended Audience This guide is for contract administrators, contract abstractors, and system personnel responsible for setting up, tracking, and maintaining precise Real Estate Contract Management details including lease and owned property information and accounting. Prerequisites This guide assumes the reader has a basic understanding of IBM TRIRIGA Application Platform and the fundamental concepts required to operate the Web-based IBM TRIRIGA system. Support IBM Software Support provides assistance with product defects, answering FAQs, and performing rediscovery. View the IBM Software Support site at Copyright IBM Corporation

7 1. Contract Management Real Estate Contract Management IBM TRIRIGA Real Estate Manager allows companies to store all contract documentation, conditions, clauses, options, and financial transactions in one comprehensive repository. The system provides automated notifications and alerts about upcoming critical dates including lease expirations, required actions and contract options to avoid overpayment, late fees and missed opportunities. In order to create up-to-date financial reports, maintain an accurate payment process, and satisfy regulatory requirements, IBM TRIRIGA Real Estate Manager provides tools to help manage the financial and payment aspects of lease accounting and allocations. Since many real estate contracts specify complex rules and limits for certain types of payments such as common area maintenance or percentage rent, the IBM TRIRIGA system provides tools to ensure that the proper contractual rules are adhered to in accounting for these obligations. The first step in the Real Estate (RE) process is identifying and acquiring the property. The next step is documenting the terms and clauses for the transaction of the contract (lease or purchase) by abstracting them into the system, thereby considerably reducing the effort involved in tracking contractual obligations in an otherwise tedious time-bound process. Consequently, the Real Estate Contract Management process serves as (1) a consolidated repository for all facilities-related contracts, aiding the production of a comprehensive view of costs and commitments, and (2) a point of convergence of contracts with properties, geographies, and organizations, thereby providing a global perspective on business activities. Real Estate Contract Management also includes receiving notifications from the system about upcoming dates or events and managing each contract through proposed changes and amendments. IBM TRIRIGA software facilitates abstraction performed in house or by an external resource. An Abstractor role and the Real Estate Contract Manager role are responsible for the activities involved in the Real Estate Contract Management process. The Real Estate Contract Manager role monitors the contracts and the details involved in the acquisition of properties. The following diagram gives a high-level view of the Real Estate process. Real Estate Overview Copyright IBM Corporation

8 The Real Estate Contract Abstracting, Real Estate Contract Administration and Real Estate Payment Processing steps are covered in progression in this document. However, the flow of process steps and information in your organization may be in a different sequence as you follow your company s business practices. For information about Portfolio Planning and Real Estate Transactions, see the IBM TRIRIGA 10 Real Estate Transaction Management User Guide. Note The process flow delivered with the IBM TRIRIGA application can be modified as required by your organization s standards and policies through configuration using the IBM TRIRIGA Application Platform building tools. Asset Lease Contract Management As a component of IBM TRIRIGA Real Estate Manager, Asset Lease Contract Management similarly allows companies to store Equipment Asset (Personal Property) lease contract documentation, conditions, clauses, options, and financial transactions in one comprehensive repository. The system provides automated notifications and alerts about upcoming critical dates including asset lease expirations, required actions and contract options to avoid overpayment, late fees and missed opportunities. The following diagram gives a high-level view of the relationship between the Asset Lease component and the Real Estate process. Asset Lease Component Copyright IBM Corporation

9 2. Contract Home Portals Your IBM TRIRIGA Home page is your entrance into the IBM TRIRIGA application. From your Home page, you can review your Home portal or use the menu system to navigate to process portals available to your role. Use your Menu Bar to navigate to other available portals. Based on your role, your IBM TRIRIGA application may consist of one or many portals. The setting of the Home page as well as the Project Home page is set in your My Profile record, in the Default Portal section. Note Based on your role in the company and your security and license access, your Home portal or process portals may vary. However, it will contain a combination of the components and section types described in this discussion. In turn, each IBM TRIRIGA portal consists of Portal Sections. Each portal section performs a specific function and/or displays data pertinent to your business role. The portal sections you have in your portal have been configured by your Application Administrator for your role in the system. Note For more information on portals and portal sections, refer to the IBM TRIRIGA 10 Getting Started User Guide. Real Estate Contract Home Portals When you sign into the IBM TRIRIGA application, you are taken to your Home portal. When you sign in as an Application Administrator user role, the Home portal is the Application Administrator portal. When you sign in as a Real Estate Contract Manager user role, your Home portal is the Real Estate Contract Manager portal. When you sign in as a Lease Accounting Manager (Lease Accountant) user role, your Home portal is the Lease Accounting Manager portal. Application Administrator Portal An example of the Application Administrator Home portal for an Application Administrator user role includes the following portal sections: Reminders Application Administrator Last Visited Application Administration License and Security Application Administration - Utilities Copyright IBM Corporation

10 Real Estate Contract Manager Portal An example of the Real Estate Contract Manager Home portal for a Real Estate Contract Manager user role includes the following portal sections: Reminders RE Contract Manager Performance Metrics RE Contract Manager Related Links RE Contract Manager Last Visited Lease Obligations Lease Expirations Utilization Rate / RE Contract Area Per Person (Space Use Agreement) Lease Accounting Manager (Lease Accountant) Portal An example of the Lease Accounting Manager Home portal for a Lease Accounting Manager (Lease Accountant) user role includes the following portal sections: Reminders Lease Accounting Manager Related Links Lease Accounting Manager Last Visited Overdue Lease Assumptions My Lease Reviews Amortization Schedule Summary 10K Financial Report Asset Lease Contract Home Portals When you sign into the IBM TRIRIGA application, you are taken to your Home portal. When you sign in as an Asset Manager user role, your Home portal is the Asset Manager portal. When you sign in as a Lease Accounting Manager (Lease Accountant) user role, your Home portal is the Lease Accounting Manager portal. Copyright IBM Corporation

11 Asset Manager Portal An example of the Asset Manager Home portal for an Asset Manager user role includes the following portal sections: Reminders Asset Manager Related Links Asset Manager Asset Value by Specification Class Last Visited Quick Find (Inventory) Quick Find (Installed/Assigned Assets by Type) My Purchase Orders Lease Accounting Manager (Lease Accountant) Portal See the Lease Accounting Manager (Lease Accountant) above. Copyright IBM Corporation

12 3. Contract Setup Real Estate Contract Setup Certain activities should be undertaken at the beginning of the IBM TRIRIGA Real Estate Manager process. These activities focus on tailoring templates, classifications, lists, locations, and contacts for your organization as well as establishing lease abstract defaults and configuring for the OSCRE (Open Standards Consortium for Real Estate) interface. These setup activities should be performed before beginning the Real Estate Contract Abstracting process, as shown in the diagram below: Real Estate Contract Setup Activities Templates IBM TRIRIGA automation strategies focus on using templates to simplify the processes involved in commonly used information. Once a template is created, you can reuse it as needed to quickly create new records. The templates used in the Real Estate Contract Management process are as follows: Lease Abstract Template Lease Clause Template Option Template Owned Property (Fee) Agreements Template Real Estate Lease Template Copyright IBM Corporation

13 The most important role of a template is to accelerate the creation of a record, avoiding redundant data entry and maintaining consistency across multiple records. Templates enable you to quickly add data that commonly appears across multiple records, such as internal contacts, clauses, terms, and conditions. When the template is applied, the system replicates the details entered in the template into the new record. Utilizing templates reduces the creation and implementation time for each record. The tabs, sections, and fields of the Real Estate Contract Management templates mirror the structure of the records they represent. For information about the tabs, sections, and fields of a template, refer to the chapter in this user guide that discusses the corresponding record. Tip Use the Templates page to build templates for your company s Real Estate Contract Management records. Use IBM TRIRIGA standard templates as a model. Instead of updating an IBM TRIRIGA standard template, copy it and build your template from the copy. Creating, Editing and Deleting a Template The process of building a template is similar for all templates. The following discussion uses the Lease Clause Template for purposes of illustration. To Create, Edit and Delete a Template Step 1 Sign in with the proper RE Contract Manager (or Application Administrator) role. Step 2 From the Menu Bar, select Contracts > Set Up > Templates. The Templates page appears. Step 3 Click Lease Clause to open the Lease Clause results page. Step 4 Review the list of Lease Clause Template records. From this page, you can add, modify or delete a Lease Clause Template record. Step 5 To add a Lease Clause Template, click Add. Step 6 Review the form that appears. Enter the details for this template. Step 7 After entering details, click Create Template. Step 8 Review the additional form actions on the Action bar. Step 9 To edit a Lease Clause Template, click the name of the Lease Clause Template you want to modify. Copyright IBM Corporation

14 To Create, Edit and Delete a Template Step 10 Review the form that appears. Make the changes and click Save & Close. Step 11 To delete a Lease Clause Template, check the check box to the left of the Lease Clause Template you want to delete. Step 12 Click Delete. The system deletes the record without a delete confirmation window. Form Actions The following table lists the common actions available and a description of each. Action Name Create Template Description Click the Create Template action to save all initial data entered in the new template. The system displays more tabs. The system displays additional actions on the Action bar. The actions include Save, Save & Close, More, Copy, and X (Cancel). Save Click the Save action to save the changes made. Save & Close X Copy Click the Save & Close action to save the changes and close the active window. Click the X (Cancel) action to terminate the changes made and also to close the active window. Note Clicking the Cancel action without saving the record will erase all the data you have entered in the record. Click the Copy action to create a copy of the selected record. On clicking the Copy action, a copy of the record is created (in the Template status) and displayed in the appropriate page wherein the details can be modified as required. More Depending on the record and its status, clicking the More action displays several more actions including those discussed above. Click the preferred action. Note For more information on the common and additional form actions available, refer to the IBM TRIRIGA 10 Getting Started User Guide. Copyright IBM Corporation

15 Classifications Classifications are records presented in a hierarchical fashion. If the type of a field is classification, a record in the Classification Hierarchy can be chosen as the value of the field. Real Estate Contracts have several classification fields that help to describe each record. For example, the following classifications are among those included in a Real Estate Lease: Area Type Clause Section Category Clause Type Contract Status Contract Type Cost Index Granted In Lease Late Fee Type Lease Class Lease Type Maintenance Priority Option Type Organization Type Pass Through Type Payment Type Provider Rating Responsible Party Roles Time Zones Year Tip The Clause Type classification contains a Clause Category field. The field values include the following: Allowance, Commission, Co-Tenancy, Covenant, Indices, Insurance, Other, Parking, Pass Through, Percentage Rent, Rent, Responsibilities, Security Deposit, and Tax. As these Clause Category values are system-defined, do not change or add new values. The Clause Category field drives the show/hide logic on the Clause Form. With this added flexibility you can add a new Clause Type and set a Clause Category, and the Form will show/hide the appropriate sections without you having to change the workflow. Note For a further discussion of Classifications and the Classification Hierarchy, refer to the IBM TRIRIGA 10 Application Administration User Guide. Lists IBM TRIRIGA provides lists of predefined values for many fields in Real Estate Contract Management. These lists contain valid data, and a user can select the required value from a list instead of typing it. This improves data integrity by restricting users to selecting approved values from a list for entry into a field. Use the Lists page to create and manage radio button lists, drop-down lists of static values, dynamic lists derived from values in the IBM TRIRIGA database, and/or dependent lists in which selection from one list passes a filter to another list. For example, the following lists are among those included in a Real Estate Lease: Copyright IBM Corporation

16 Accounting Type Calculation Rule Conversion Group Country Currency FASB Type Lease Service Responsibility Note Type Payment Entry Type Payment Method Payment Schedule Schedule Type Note You can find more information about the Lists page in the IBM TRIRIGA 10 Application Administration User Guide. Locations Each location used in the IBM TRIRIGA system must be defined in the Location Hierarchy. The elements contained in the Location Hierarchy are as follows: Building External Retail Location Floor Land Location Category Property Proposed Retail Location Proposed Site Retail Center Retail Location Space Space Group Structure Vertical Shaft Note The IBM TRIRIGA 10 Portfolio Management User Guide and the IBM TRIRIGA 10 Real Estate Environmental Sustainability Portfolio Management User Guide contain detailed instructions for how to use the Location Hierarchy that are not replicated in this user guide. Also, you can create a new location while working in a Lease Abstract record from the Create New Location action on the Primary Address section bar. Contacts Each Real Estate Contract record includes information about the various contacts for that record, for example the landlord. Such information can be entered by the user when they create or update a Real Estate Contract record. First, enter contact information in the People page in IBM TRIRIGA. This promotes data integrity by ensuring consistent information in each Real Estate Contract record for a contact and reduces data entry time because a contact can be quickly found with a search. The elements contained in the People page include: Consultant Employee External Contact Copyright IBM Corporation

17 Note The IBM TRIRIGA 10 Portfolio Management User Guide and the IBM TRIRIGA 10 Real Estate Environmental Sustainability Portfolio Management User Guide contain detailed instructions for how to use the People page that are not replicated in this user guide. Application Settings Many of the parameters used in various calculations and comparisons can be set once for the entire application. The Application Settings record provides a location for setting the defaults for such parameters. Note Refer to the IBM TRIRIGA 10 Application Administration User Guide for details. Lease Abstract Defaults A Lease Abstract record includes actions to Create New Location on the Primary Address section bar and Create New Organization on the Tenant, Landlord, Management Company, and Guarantor section bars. These actions require the identification of the parent record in the hierarchy and automatically default to the parent record. Set the Lease Abstract defaults for organization and location in the General tab, Lease Abstract Defaults section of the Application Settings record, located under Tools > System Setup > General > Application Settings. Lease Assumption and Amortization Defaults Set the Real Estate Lease defaults for review assumptions, lease growth assumptions, rent component assumptions, amortization periods, and extended rent payments for the likely term, in the Lease Accounting Settings tab of the Application Settings record, located under Tools > System Setup > General > Application Settings. Note For more information about the application of assumption review information to the initial Assumption Audit Log when the Real Estate Lease is created, see the Lease Abstract to Real Estate Lease Process. Copyright IBM Corporation

18 Configure for OSCRE Interface Both your server and the third-party server need to be configured in order to use IBM TRIRIGA OSCRE Lease Abstract Standard tools. The following information describes in general terms the tasks that should be performed. These functions are generally performed by an administrator. TRIRIGAWEB.properties File Configure the following properties in the TRIRIGAWEB.properties file in both your server and the third-party server before sending Lease Abstract records or using the IBM TRIRIGA OSCRE Lease Abstract XML Export and Import tools the first time: Set the SMTP mail server mail.smtp.host and the SMTP mail server IP mail.smtp. .domain. The DATACONNECT_SLEEP_TIME default is 10 minutes. This is the time before it wakes up to check if more jobs need to be processed. Be aware that the default for DC_HISTORY_RETENTION_DAYS is 5 days. This property is the number of days before entries are cleaned up from DataConnect Jobs that are Completed or Obsolete. Note You will find information about the TRIRIGAWEB.properties file in the IBM TRIRIGA Application Platform 3 Installation and Implementation Guide. Administrator Console Use the IBM TRIRIGA Administrator Console on both your server and the third-party server to configure the following: The IBM TRIRIGA OSCRE XML tools require DataConnect and Incoming Mail agents to be running. Start them from the Administrator Console if they are not already started. Alternately, these can be configured in the TRIRIGAWEB.properties file to start automatically. For more detailed logging during OSCRE XML processing, turn on platform logging for DataConnect, Incoming Mail, and/or ETL. Note You will find information about the Administrator Console in the IBM TRIRIGA Application Platform 3 Administrator Console User Guide. Application Settings Both your server and the third-party server need the following tasks completed: Incoming Mail: IP Address and valid incoming mail account for server. System Config User Accounts: When sending a Lease Abstract record, any System Config account may be chosen as source or target system. This is located under Tools > System Setup > Integration > System Configuration. Copyright IBM Corporation

19 Configure users groups to include IBM TRIRIGA RE Lease Abstractor and IBM TRIRIGA RE Lease Abstract Manager as appropriate. Notification Requirements: Accepted, Clarification Provided, Clarification Requested, Received, and Rejected user/role notification configurations under Tools > Approvals & Notifications. Verify Transformation Content records exist for all OSCRE processes (Accept, Reject, Send, Request Clarification, and Provide Clarification) under Tools > Data Utilities. Verify all Transformation files exist for all OSCRE processes (Accept, Reject, Send, Request Clarification, and Provide Clarification) in the General tab, Lease Abstract Transformation section of the Application Settings record located under Tools > System Setup > General > Application Settings. Note Refer to Application Building for the IBM TRIRIGA Application Platform 3 and IBM TRIRIGA 10 Application Administration User Guide for details. Asset Lease Contract Setup Certain activities should be undertaken at the beginning of the IBM TRIRIGA Asset Lease Contract Management process. These activities focus on tailoring templates, classifications, lists, locations, and contacts for your organization. Templates IBM TRIRIGA automation strategies focus on using templates to simplify the processes involved in commonly used information. Once a template is created, you can reuse it as needed to quickly create new records. The templates used in the Asset Lease Contract Management process are as follows: Asset Lease Clause Template Asset Lease Template Option Template (same for Real Estate Contract Management process) For more information on templates, see the Real Estate Contract Management Templates. Copyright IBM Corporation

20 Creating, Editing and Deleting a Template The process of building a template is similar for all templates. The following discussion uses the Asset Lease Clause Template for purposes of illustration. To Create, Edit and Delete a Template Step 1 Sign in with the proper RE Contract Manager (or Application Administrator) role. Step 2 From the Menu Bar, select Contracts > Set Up > Templates. The Templates page appears. Step 3 Click Asset Lease Clause Template to open the Asset Lease Clause Templates results page. Step 4 Review the list of Asset Lease Clause Template records. From this page, you can add, modify or delete an Asset Lease Clause Template record. Step 5 To add an Asset Lease Clause Template, click Add. Step 6 Review the form that appears. Enter the details for this template. Step 7 After entering details, click Create Template. Step 8 Review the additional form actions on the Action bar. Step 9 To edit an Asset Lease Clause Template, click the name of the Asset Lease Clause Template you want to modify. Step 10 Review the form that appears. Make the changes and click Save & Close. Step 11 To delete an Asset Lease Clause Template, check the check box to the left of the Asset Lease Clause Template you want to delete. Step 12 Click Delete. The system deletes the record without a delete confirmation window. Copyright IBM Corporation

21 Form Actions The following table lists the common actions available and a description of each. Action Name Create Template Description Click the Create Template action to save all initial data entered in the new template. The system displays more tabs. The system displays additional actions on the Action bar. The actions include Save, Save & Close, More, Copy, and X (Cancel). Save Click the Save action to save the changes made. Save & Close X Copy Click the Save & Close action to save the changes and close the active window. Click the X (Cancel) action to terminate the changes made and also to close the active window. Note Clicking the Cancel action without saving the record will erase all the data you have entered in the record. Click the Copy action to create a copy of the selected record. On clicking the Copy action, a copy of the record is created (in the Template status) and displayed in the appropriate page wherein the details can be modified as required. More Depending on the record and its status, clicking the More action displays several more actions including those discussed above. Click the preferred action. Note For more information on the common and additional form actions available, refer to the IBM TRIRIGA 10 Getting Started User Guide. Classifications For information on classifications, see Classifications for Real Estate Contract Management. Copyright IBM Corporation

22 Lists For information on lists, see Lists for Real Estate Contract Management. Locations For information on locations, see Locations for Real Estate Contract Management. Contacts For information on contacts, see Contacts for Real Estate Contract Management. Copyright IBM Corporation

23 4. Contract Process Real Estate Contract Abstract Process Abstracting a Real Estate Contract into electronic form facilitates easy access to key information, replacing the tedious process of reading the entire contents of the contract each time. You should be able to abstract any information within a Real Estate Contract that you want to search for, report on, set notifications, include in a workflow, or analyze and compare with other records. All costs should be abstracted for cost analysis. The following diagram illustrates the real estate contract abstraction process: Real Estate Contract Abstract Process Whether the Real Estate Contract is a lease or owned property, there are many common elements in the abstraction process. This chapter discusses the Lease Abstract, Real Estate Lease, and Owned Property (Fee) Agreement records, as well as their common elements. Lease Abstract Lease Abstract Clause Common Elements Lease Abstract Process Common Elements Lease Abstract Process OSCRE Interface Real Estate Lease Owned Property (Fee) Agreements Copyright IBM Corporation

24 Lease Abstract Property, Plant and Equipment (PP&E) costs are often the second most significant expenses in a financial summary. Lease costs are a significant component of PP&E and careful management can substantially reduce these costs. The tasks involved in managing a lease enable the organization to effectively supervise properties, such as lots and buildings, and other resources that they own or lease. The IBM TRIRIGA system simplifies and automates the process of managing contractual obligations and tax regulations, tracking expenses and payments, and maintenance activities. A typical lease may carry detailed provisions requiring tenants and landlords to pay for the building expenses, real estate taxes, utility charges, and other items. A lease is abstracted into the IBM TRIRIGA application so that it can become an interactive, indexed document on which queries can be run, enabling cost-related decisions to be made based on accurate data. This abstraction will notify the vital dates in advance, thereby eliminating costly oversights. Abstracting a lease into electronic form facilitates easy access to key information, rather than the tedious process of reading the entire contents of the contract each time. You should be able to abstract any information within a lease that you want to search from, report on, set notifications, include in a workflow, or analyze and compare with other records. All costs spelled out in a lease also should be abstracted for cost analysis. The Real Estate Lease Abstract record can contain as much of the actual lease details as you want, based on your organization s preferences and standards. You can elect to enter the entire lease wordby-word and even attach the lease as a scanned or document file using the Document Manager module, or you can summarize and capture only specific key aspects of a lease. The following diagram illustrates where this section belongs in the overall Real Estate Contract abstraction process. Real Estate Contract Abstract Process Lease Abstract Copyright IBM Corporation

25 The IBM TRIRIGA Lease Abstract functionality is a best practice for lease abstraction. A Lease Abstract (formerly called a proposed lease) provides an organized and simplified form for capturing the critical information found in your physical lease contracts. IBM TRIRIGA supports data entry techniques designed to dramatically reduce the time it takes to enter this critical information, including: (a) You enter Lease Abstract records in the system, (b) A third-party abstractor uses IBM TRIRIGA to enter Lease Abstract records, and then sends the records to you via OSCRE XML, and (c) A third-party abstractor outside the IBM TRIRIGA system enters Lease Abstract records in the Real Estate Lease Abstract Offline form, and s the form to the IBM TRIRIGA system. A Lease Abstract record creates a draft of the Real Estate Lease before formally endorsing it. This can separate security between internal and outsourced resources that are abstracting leases. Upon mutual agreement of the stipulated terms, the Lease Abstract serves as a formal Real Estate Lease record. The Lease Abstract record functions as a forerunner of the actual Real Estate Lease before closeout of the same. After a Lease Abstract record is activated and approved, the moment it is completed, the record becomes a Real Estate Lease record and is available for further transactions. Follow the procedure below to create a new Lease Abstract record. A Lease Abstract also may be created on completion of a RE Lease project. You will find more information on RE Lease projects in the IBM TRIRIGA 10 Real Estate Transaction Management User Guide. Creating Lease Abstract Using the IBM TRIRIGA System Using a Third-Party IBM TRIRIGA System and OSCRE XML Using the Real Estate Lease Abstract Offline Form The following tabs in a Lease Abstract are described below: General Tab Before Creating Draft General Tab After Creating Draft Rent Tab Default Tab Security Deposit Tab Options Tab Rights Tab Allowances Tab OPEX/CAM Tab Insurance Tab Tax Tab Parking Tab Co-Tenancy Tab Green Lease Provisions Tab Responsibilities Tab Other Clauses Tab Accounting Tab Copyright IBM Corporation

26 The following common tabs are described in the Lease Abstract Process - Common Elements section: Notifications Tab Notes & Documents Tab Work Flow Instance Tab Associations Tab Tip After adding or editing data in a multi-tab section, navigate back to the Clause Details sub-tab and click Save Clause. Tip Click the Save action on the Lease Abstract record action bar after entering information and before moving to the next tab. Creating Lease Abstract Lease Abstract records can be entered into the system using the following methods: Using the IBM TRIRIGA System - By users keying information into the system. Using a Third-Party IBM TRIRIGA System and OSCRE XML - By third-party lease abstractors keying information into a different IBM TRIRIGA system and using OSCRE XML. Using the Real Estate Lease Abstract Offline Form - By users ing the Real Estate Lease Abstract Offline form. The tabs, sections, and fields in a Lease Abstract record have the same significance regardless of the method used to enter them. Using the IBM TRIRIGA System Follow these steps to access Lease Abstract records: To Access Lease Abstract Records Step 1 Sign in with the proper RE Contract Manager role. Step 2 From the Menu Bar, select Contracts > Leases. The Leases page appears. Step 3 In the Related Links Contract Leases portal section, click Lease Abstracts to open the Lease Abstracts results page. Step 4 Review the list of Lease Abstract records. From this page, you can add, modify or delete a Lease Abstract record. Note The Lease Abstracts results page is the only place where you can delete a Lease Abstract record. Copyright IBM Corporation

27 To Access Lease Abstract Records Step 5 To add a Lease Abstract, click Add. Step 6 Review the form that appears. Step 7 After entering details, click Create Draft. Step 8 Review the form that refreshes. The system displays more tabs representing clause types to be abstracted. The system changes the status of the record to Draft and displays additional form actions on the Action bar. Form Actions The following table lists the common actions available and a description of each. Action Name Create Draft Description Click the Create Draft action to save all initial data entered in the new record. The system displays more tabs representing clause types to be abstracted. The system changes the status of the record to Draft and displays additional actions on the Action bar. The actions include Activate, Apply Template, Save, Save & Close, More, Copy, and X (Cancel). Save Click the Save action to save the changes made. Save & Close X Copy Click the Save & Close action to save the changes and close the active window. Click the X (Cancel) action to terminate the changes made and also to close the active window. Note Clicking the X (Cancel) action without saving the record will erase all the data you have entered in the record. Click the Copy action to create a copy of the selected record. On clicking the Copy action, a copy of the record is created (in the Draft status) and displayed in the appropriate page wherein the details can be modified as required. Copyright IBM Corporation

28 Action Name Apply Template Description Click the Apply Template action to copy the contents of the selected template to the current record. On clicking the Apply Template action, the system displays a list of templates retrieved from the associated business objects. Select a template and click the OK action. The system copies the contents of the selected template to the current record. Activate Click the Activate action to add the record to the active management list. On clicking Activate action, the system changes the status of the record to Review In Progress and after all the members in the distribution list have approved the record, the record status becomes Active. Complete Click the Complete action to complete the tasks associated with the record. The system copies the information in the Lease Abstract record and creates a Real Estate Lease record with the same name that is found in the Real Estate Lease page in Draft status. Note On clicking Complete, the system adds a link to the newly created Real Estate Lease record, in the Lease Abstract record s Real Estate Leases section on the General tab. Moreover, the system adds a reciprocal link to the Lease Abstract, in the Lease Abstract section of the History tab on the Real Estate Lease record. More Depending on the record and its status, clicking the More action displays several more actions including those discussed above. Click the preferred action. Note For more information on the common and additional form actions available, refer to the IBM TRIRIGA 10 Getting Started User Guide. Using a Third-Party IBM TRIRIGA System and OSCRE XML Follow these steps to access Lease Abstract records: To Access Lease Abstract Records Step 1 Sign in with the proper RE Contract Manager role. Step 2 From the Menu Bar, select Contracts > Leases. The Leases page appears. Copyright IBM Corporation

29 To Access Lease Abstract Records Step 3 In the Related Links Contract Leases portal section, click Lease Abstracts to open the Lease Abstracts results page. Step 4 Review the list of Lease Abstracts records. From this page, you can add, modify or delete a Lease Abstract record. Note The Lease Abstracts results page is the only place where you can delete a Lease Abstract record. Step 5 To add a Lease Abstract, click Add. Step 6 Review the form that appears. Step 7 After entering details, click Create Draft External. Step 8 Review the form that refreshes. The system displays more tabs representing clause types to be abstracted. The system changes the status of the record to Draft and displays additional form actions on the Action bar. The actions include Start Abstract, Apply Template, Save, Save & Close, More, Copy, and X (Cancel). Step 9 Fill in the desired data and click Start Abstract. The system changes the status of the record to In Progress. Step 10 Enter any other data and click Submit for Review. The system routes the record for approval following the approval rules established by your company. Until the Lease Abstract record is approved, its status is Review In Progress. Once approved, the Lease Abstract record is found in the Lease Abstracts results page with a status of Approved. Step 11 When you are ready to send the Lease Abstract record to another system: Return to the Lease Abstracts results page. Reopen the Lease Abstract record. Click Send. Step 12 Review the Lease Abstract Send form that appears. Enter a Comment. Select the Source System. Select the Target System. Click Submit. The system sends the record via and changes the status of the record to Sent. Copyright IBM Corporation

30 Form Actions The following table lists the common actions available and a description of each. Action Name Create Draft External Description Click the Create Draft External action to save all initial data entered in the new record. The system displays more tabs representing clause types to be abstracted. The system changes the status of the record to Draft and displays additional actions on the Action bar. The actions include Start Abstract, Apply Template, Save, Save & Close, More, Copy, and X (Cancel). Save Click the Save action to save the changes made. Save & Close X Copy Click the Save & Close action to save the changes and close the active window. Click the X (Cancel) action to terminate the changes made and also to close the active window. Note Clicking the X (Cancel) action without saving the record will erase all the data you have entered in the record. Click the Copy action to create a copy of the selected record. On clicking the Copy action, a copy of the record is created (in the Draft status) and displayed in the appropriate page wherein the details can be modified as required. Apply Template Click the Apply Template action to copy the contents of the selected template to the current record. On clicking the Apply Template action, the system displays a list of templates retrieved from the associated business objects. Select a template and click the OK action. The system copies the contents of the selected template to the current record. Start Abstract Click the Start Abstract action to begin entering Lease Abstract data into the Lease Abstract tabs. On clicking the Start Abstract action, the system changes the status of the record to In Progress. Copyright IBM Corporation

31 Action Name Submit for Review Description Click the Submit for Review action to add the record to the active management list. On clicking Submit for Review action, the system changes the status of the record to Review In Progress and after all the members in the distribution list have approved the record, the record status becomes Approved. Send Submit Click the Send action to send the Lease Abstract record to another system. Click the Submit action to send the record via . On clicking Submit action, the system changes the status of the record to Sent. Note Additional record statuses include: Accepted The record was accepted by the other system. Rejected The record was rejected by the other system. Pending Clarification This is a status on the customer system when waiting for clarification to be provided by the third-party system. Clarification Requested The third-party system has received the Clarification Requested. Open the record to Provide Clarification. Clarification Provided The third-party system has sent Clarification Provided and both customer and third-party record statuses have been updated. Received The other system received the record. However, it has not been acted upon. More Depending on the record and its status, clicking the More action displays several more actions including those discussed above. Click the preferred action. Note For more information on the common and additional form actions available, refer to the IBM TRIRIGA 10 Getting Started User Guide. Copyright IBM Corporation

32 Using the Real Estate Lease Abstract Offline Form IBM TRIRIGA offers the Real Estate Lease Abstract Offline Form as a mechanism for importing Lease Abstract records that have been created outside the IBM TRIRIGA system. The Real Estate Lease Offline Form is an Excel spreadsheet that has an area for tabs in a Lease Abstract record (General, Rent, Security Deposit, Options, Allowances, OPEX/CAM, Insurance, Tax, Parking, Co-Tenancy, Responsibilities, and Covenants). Once the external user completes an Offline form for a Lease Abstract record, they click Offline Form to send the form as an attachment to a configured incoming address. The subject of the must be LEASE ABSTRACT FORM. When the system processes the Real Estate Lease Abstract Offline Form, it creates a Lease Abstract record in draft status. Note Application Building for the IBM TRIRIGA Application Platform 3 describes how to set up the IBM TRIRIGA system to receive an Offline form. IBM TRIRIGA 10 Application Administration User Guide describes how to access and manage the Offline forms for external users. Note The Lease ID of a Lease Abstract record must be unique. The system rejects any imported Lease Abstract record with a Lease ID matching a Lease Abstract record already in the database. General Tab Before Creating Draft The General tab of the Lease Abstract includes basic information about the lease and the location. The following describes each section in the General tab: Abstract Details Section Abstracted By If the person listed in Abstracted By is not correct, enter a few characters of the name to take advantage of autocomplete or click the Search icon to find the name. Abstracted Date To change the Abstracted Date, click the Calendar icon. Document Details Section Document Version Enter the Document Version. Executed Date For Executed Date, click the Calendar icon and select the date. Document Type Click the Search icon and select the appropriate Document Type. Effective Date For Effective Date, click the Calendar icon and select the date. Copyright IBM Corporation

33 Document Details Section Lease File Name Enter the Lease File Name. General Section Lease ID Enter a unique Lease ID identifying the Lease Abstract record. If you do not assign a Lease ID, the system generates one automatically. For third-party (external) integrations, a unique Lease ID is critical to the integration working properly. Status The system displays the current Status of the record. The values are described below: Draft - The record has been created and awaits further data entry. The system generates this status when the user clicks Create Draft on the action bar. Review In Progress The record has been routed for approval and is yet to be approved by all distribution list members. The system generates this status when the user clicks Activate on the action bar. Approved All distribution list members approved the record. The system automatically changes the record status from Review In Progress to Approved after record approval. Completed The record is now a Real Estate Lease in Draft status. The system generates this status when the user clicks Complete on an Approved record s action bar. Picture Lease Name Legal Name Description Select a picture for this record. Enter the Lease Name of the record. For Legal Name, enter the landlord/organization name as available in the legal documents. Provide a brief Description of the record. Copyright IBM Corporation

34 Form Actions The following table lists the common actions available and a description of each. Action Name Create Draft Description Click the Create Draft action to save all initial data entered in the new record. The system displays more tabs representing clause types to be abstracted. The system changes the status of the record to Draft and displays additional actions on the Action bar. The actions include Activate, Apply Template, Save, Save & Close, More, Copy, and X (Cancel). Save Click the Save action to save the changes made. Save & Close X Copy Click the Save & Close action to save the changes and close the active window. Click the X (Cancel) action to terminate the changes made and also to close the active window. Note Clicking the X (Cancel) action without saving the record will erase all the data you have entered in the record. Click the Copy action to create a copy of the selected record. On clicking the Copy action, a copy of the record is created (in the Draft status) and displayed in the appropriate page wherein the details can be modified as required. Apply Template Click the Apply Template action to copy the contents of the selected template to the current record. On clicking the Apply Template action, the system displays a list of templates retrieved from the associated business objects. Select a template and click the OK action. The system copies the contents of the selected template to the current record. Activate Click the Activate action to add the record to the active management list. On clicking Activate action, the system changes the status of the record to Review In Progress and after all the members in the distribution list have approved the record, the record status becomes Approved. Copyright IBM Corporation

35 Action Name Complete Description Click the Complete action to complete the tasks associated with the record. The system copies the information in the Lease Abstract record and creates a Real Estate Lease record with the same name that is found in the Real Estate Lease page in Draft status. Note On clicking Complete, the system adds a link to the newly created Real Estate Lease record, in the Lease Abstract record s Real Estate Leases section on the General tab. Moreover, the system adds a reciprocal link to the Lease Abstract, in the Lease Abstract section of the History tab on the Real Estate Lease record. More Depending on the record and its status, clicking the More action displays several more actions including those discussed above. Click the preferred action. Note For more information on the common and additional form actions available, refer to the IBM TRIRIGA 10 Getting Started User Guide. General Tab After Creating Draft Primary Address Section Location Lookup Enter a few characters of the Location in the Location Lookup field to take advantage of autocomplete or click the Search icon to find the Location. Note The data will be defaulted in the following fields Location, Geography Path, Address, City, State/Province, County, Zip/Postal Code and Country if the data was provided in the selected record for this Location Lookup field. Location Geography Path Enter Location information. Enter a few characters in the Geography Path field to take advantage of autocomplete or click the Search icon. Note The data will be defaulted in the following fields City, State/Province, County and Country based on the selected Geography Path. Copyright IBM Corporation