Vendor's client reference
Background
The option of splitting fees in the same dealing was introduced in June. Linked with that is the ability to enter separate client references for purchaser and vendor.
The registration fee for any discharge will automatically becharged to the vendor in any e-dealing.
Vendor's new step
Once advised of the dealing number by the purchaser, enteryour vendor's client reference in the Create Dealing screen.
In order to reconcile your LINZ account with any discharge fees you must include your vendor's client reference. The vendor must do this before the instruments are released to the purchaser. This should ideally occur when the vendor prepares the discharge in the dealing created by the purchaser. The other opportunities are at the time of signing or on settlement prior to release.
For those who operate checklists the addition of 'Insert client reference' may assist.
Only the client reference for the logged on firm will display. Namely, the purchaser's and vendor's solicitors will only see their own client reference.
If no client reference is noted the only means of reconciliation is the dealing number.
