On the Fees/Submit tab within any application package, assign Fees to participants in the deal.
For most digital transactions, charges are collected immediately: When something is purchased, the credit card almost immediately shows the transaction. Things run a little differently for digital application payments.
Similar to pre-authorization on a credit card for services such as hotel stays or rental cars, BoardPackager first ensures that the credit card payment will go through. Then, when the management company reviews the calculated fees and sees they are correct, payment is collected.
Here's an overview of the page and how it works.
Review the list of building fees and notice the party responsible for payment of each in this table.
Fee Name: The type of fee being charged by the building.
Responsible: This is the role responsible for paying the fee, typically the Buyer or the Seller.
Amount: The cost of the fee. Please note: Some fees are conditional based on the number of people involved in the deal. In the example above, if there were 2 co-buying applicants, the charge would be $150.
Assignee: The actual person's name who will be responsible for paying the fee.
Please note: You must include all persons who are responsible for fees in the Deal Parties page and you must share the package with them prior to requesting that they authorize fees. Click here to see our article on package sharing for more information.
Payment Status: The payment status will list one of three status types:
:: Not Authorized indicates that the fee hasn’t been approved for a potential payment by either the payee or the payee’s credit card company.
:: Authorized indicates that fee has been approved for a potential payment by either the payee or the payee’s credit card company. A hold for the payment has been placed on the credit card, but the payment has not been collected yet.
:: Collected indicates the fee has been officially collected and the payee should see a charge of the amount specified from their credit card account
Calculate Conditional Fees
If a fee is contingent on an outside factor (such as “per applicant”), enter the total cost before submitting to the responsible party(ies). In the example above, for 2 applicants, you‘d enter $150.
Choose the appropriate party responsible from the drop-down menu. This feature is designed to enable agreements where one party has agreed to cover a cost typically assigned to another.
Please note: All those involved in authorizing/paying fees must first be entered into Deal Parties with current email address included.
Submit to Selected Parties
Select this button once all fees have been calculated and assigned. Then, fee authorization requests will be sent to all parties via an email from BoardPackager.
A Reset Fees button will appear above the Fees table after Fees have been submitted in case you’ve miscalculated or something has changed after you’ve sent the authorization request.
A window asking you to confirm your choice will then appear, select.
BoardPackager is now accepting international payments!
Please note: Fees are collected by the Managing Agent at the time of submission. If you elect to Reset Fees, any prior authorizations will need to be re-authorized. Communicate these changes directly to the party(ies) impacted by the reset. Additionally, BoardPackager charges digital processing fees that are calculated at the time fee authorization is requested. Fees are non-refundable and users will be asked to confirm that they agree to pay the fees assigned to them.