ASCENDANT ADVANCE COMMISSION SERVICE

provides advance commission on the sale of property to estate agents / agencies. 70% of the total commission is advanced, once suspensive conditions have been met on the sale of the property and the balance of 30%, less Ascendant's fees, is paid on the date of receipt of funds from the transferring attorney. The client for each individual transaction signs a cession of the commission and Ascendant is paid directly by the transferring attorney.

Clients can: Plan their cashflow; Operate their business with peace of mind; Establish a continuous source of working capital; Assist agents who require cashflow assistance; Focus their attention on sales and marketing; Take advantage of profitable opportunities requiring additional cash and leave the follow-up of advanced deals to Ascendant.

Ascendant will: Monitor the transfer / registration process; Provide you with a monthly printout of deals in progress; Ensure that each request for Advance Commission is dealt with swiftly and efficiently and Transfer funds electronically within 24 hours (conditions apply)

To apply for Ascendant's Advance Commission Service, please open the Master Sale Agreement, as well as the Resolution Agreement, complete and sign them and send to us by fax and courier the originals.

To arrange for Advance Commission, complete the Request to Sell Commission form, complete it and fax together with a copy of the Bond Grant letter and the signed Sale Agreement.

FLOW DIAGRAM FOR ASCENDANT’S ADVANCE COMMISSION

Agency		Ascendant		Attorney
Complete and sign Master Sale Agreement Facility immediately in place		Ascendant review Agencies Do ITC-check Load MSA details onto system
To arrange Advance Commission the agency faxes through: Request to sell commission form Copy of Bond Grant letter Signed Sale Agreement
		Ascendant vet the transaction by confirming the Bond Grant as well as fulfillment of suspensive conditions and authorize the transaction for payment.
		Ascendant faxes to the Agency a one page Offer to purchase their right to commission together with a Cession letter for signature.
Agency’s authorized signatory signs acceptance of the Offer to purchase Commission as well as the Cession and faxes back to Ascendant.
Payment is made to Agency. Proof of payment is faxed to Agency.		Ascendant makes an electronic initial payment to the Agency (70% within 24/48 hours of receiving Agency’s request)
		Ascendant notifies the Conveyancer of the Cession of the commission by fax		Confirms the Cession is on file with each call around
				On Registration of Transfer
				Attorney deposits commission into Ascendant’s bank account
Agency receives final payment		Ascendant finalises transaction and electronically deposits Final Payment into Agency’s bank account
		Ascendant faxes breakdown of Final Payment and proof of payment to Agency