Banks can now modify a Property Management Agreement (PMA) with a possessory mortgage between the bank and owner through DARI's Modify Property Management Agreement service. Banks can modify a PMA with a possessory mortgage between the bank and owner by following these steps:
1. Login to DARI
2. Go to the Services menu on the homepage.
3. Select Lease from the services list.
4. Choose Modify Property Management Agreement from the submenu and click Initiate Service.
5. On the next screen, search for the (PMA) contract through the filters tab using the contract ID. Select the contract and click Proceed.
6. A new screen will display the PMA contract details. Review the property details, the first party (owner), the second party (bank), possessory mortgage details, PMA details, appendices (if any), and documents (if any), and click Initiate application.
Note: You can initiate the application by clicking Contracts and PMA. Select the contract and click Modify to initiate the application.
7. On the next screen, the properties will be displayed. You can choose one of the following options:
- Clear all properties: you can delete all the properties.
- Add property: you can add new properties.
- Modify: you can edit the existing units and add new ones by clicking Add selected.
- Delete: you can delete the building.
8. After you modify the properties, click Next to proceed.
9. A new screen will display the PMA contract details, such as the first party (owner), the second party (bank), and the possessory mortgage details. Review the details and click Next.
10. Now, assign the permissions to the first or second party. Next, enter the agreement end date. Enter the agreement amount as a percentage or in AED and click Next.
- If the application has been submitted a month after the registration of the original property management agreement, the end date cannot be changed.
- The PMA contract duration should align with the duration of the possessory mortgage.
- Next, you can upload any appendices in both Arabic and English. You can also edit or delete the existing appendices and upload any documents. Now, click Next.
- A new screen will display the application details, such as the details of the property, the first party (owner), the second party (bank), the possessory mortgage, the PMA, the documents, and the appendices. Review the details and click Submit.
- A message will appear to confirm that the application to modify the Property Management Agreement has been forwarded to the designated parties for approval based on the initiator:
- Bank employee: the application will be forwarded to the bank signatory to accept, return, or reject it.
- Bank signatory: the application will be approved instantly.
- Once the application is approved, the initiator will be notified to proceed with the payment.
- On the payment task, review the application and payment details and click Proceed with the Payment.
- On the next screen, choose the payment method, either via DARI Wallet or Debit/Credit Card, and click Pay Now.
- A message will appear to confirm that a payment has been made and the Property Management Agreement has been modified successfully. You can now download the contract and payment receipt.
Note: DARI admins can initiate the application in case the initiator is unable to do so.
Here you will find a video tutorial to help you initiate the service:
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