Approving a Contract

Once all of the required lease components have been added to the contract and all of the terms and conditions have been completed, the contract can be approved by the VP of Leasing. When the Contract Phase is "Initial" and the Contract Status is "Define", the following actions can be performed:

  1. The Lease Administrator must request approval for the contract. The Contract Status changes to "Waiting for Approval".
  2. The VP of Leasing can:
    • Approve the contract, which will automatically generate the activation groups and units. The Contract Phase changes to "Setup" and the Contract Status changes to "Active".
    • Send the contract back to be reworked. The Contract Status changes back to "Define". The Lease Administrator or Accountant can return to the contract and modify it.
    • Discard the contract. Changes are no longer possible, and the Lease Administrator must create a new contract if they want to do changes to the original one. The Contract Status changes to "Rejected". Note that these contracts are still listed under the MLA.
  3. Once the contract is approved, the VP of Leasing has the option to call back the approval of the contract if all of the activation groups are in the Activation Group Status "Define".

To request approval for a contract:

  1. Once all of the lease components have been added and defined, the Lease Administrator must navigate back to the contract.
  2. At the top of the page, click the Request Approval button.
  3. Application and email notifications are automatically sent to the user who was added on the Partners page as having the Contract Approval responsibility.

To approve a contract:

  1. Once the VP of Leasing has received a request for approval, they must open the contract.
  2. At the top of the page, click Approve, Rework, or Discard.
  3. If required, click Callback to revoke the contract approval (if the activation groups are all still in the "Define" Activation Group Status).

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