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Settlement Room FAQ

General

 
Where is SAI Global Property located?
SAI Global have offices in all states, however the Settlement Room Project Team is largely based in Sydney and Melbourne. Back to top.
 
Can we book SAI Global Property to act for us through Settlement Room or opt to attend ourselves for settlements local to us?
We are currently in the process of building a button in Settlement Room which would allow you to select that we attend the settlement on your behalf. At this stage you would still need to book through Search Manager as you currently do. Back to top.
 
Will other software providers be able integrate Settlement Room into their software?
Not at this stage, we have not been approached by anybody but we are open to discussions and the opportunity to integrate Settlement Room into other software. Back to top.
 
How long after matters settle are the records (e.g. history of transactions) maintained by SAI Global Property?
At this stage, your matters will be retrievable in Settlement Room forever. In late 2015 we are releasing the ability to mark a matter as "Archive" or "Settled" which will make the matter read only, but will remain searchable through My Matters. We don’t have an archive policy implemented as of yet. We are looking to industry standards to guide us on that front. We are learning towards adopting the seven year rule; however that is a decision that we have not made yet. Back to top.
 
Does this mean that SAI Global Property will be acting as our settlement agent, or do we still have the option of using our own settlement agent?
SAI Global Property has no involvement in Settlement Room. By using Settlement Room, you are organising settlement with your Bank and if applicable the other legal representative. You still have the option to and are required to organise your settlement agent outside of Settlement Room as you do today. Back to top.
 
I really know nothing about Settlement Room and would like to know everything.
The best place to start would be to watch our educational videos on our web site or via the Help Icon in Settlement Room. Keep an eye out for advertised webinars and any events we are holding, and additionally contact our Help Desk 1300 730 000 and select option 2. Back to top.
 
Is the actual settlement still attended by the usual agents? Are paper titles still handed over?
Yes - Settlement Room is not PEXA. It is the preparation for your manual settlement.  You still have to attend settlement and hand over cheques and other documents. Settlement Room just helps you book with your bank, enter financials and collaborate with the other side. It doesn’t replace the need to attend settlement. Back to top.
 
Is the process the same if it is a three party settlement without an Outgoing Mortgagee?
The Vendor Representative can still do the steps and load the cheques on behalf of the Outgoing Mortgagee and any other cheques that they may have and do the final confirmation. So it does work for 2 party, 3 party or 4 party transactions. Back to top.
 
Does each party need to create a file?
Yes, when you accept an invitation, you will go through a matter create stage. This is done in order to go through the verification process which takes place after creating the file. By creating a matter, you are putting in your information that you know is to be true. The verification will then compare your file to that of the other party to iron out any possible discrepancies. Back to top.
 
We have two offices and some requests/emails are being sent to our other office. Is there a way to change the email address when creating the matter in the first instance?
The initial invitation from our Financial Institutions will be sent to the office as noted on the Contract of Sale. Once the matter has been accepted, the notifications will be delivered to that workgroup. If the invitation has been delivered to the wrong workgroup, contact our Help Desk on 1300 730 000 to reissue the invitation. If the actual email address changes or is incorrect, our Help Desk can also update your details in the Conveyancing Directory. Back to top.
 
What happens if there is a second mortgage or a caveator that also needs to attend?
You will need to arrange for that person to attend settlement outside of Settlement Room. Unfortunately at this stage, Settlement Room does now allow for inviting caveators. Back to top.
 
Is there any way that SAI Global Property can put our file reference on emails?
in late 2015, our enhancements will see the matter name being displayed on email subject lines, with the exception of the invitation and ready to book notifications. Back to top.
 
When clicking on the Settlement Room tab, it asks me to contact Account Administrator. Why is this?
If you find any errors with the system please ring the Electronic Settlement support team on 1300 730 000 and select option 2. The team will resolve they technical issue with you on the phone. Back to top.
 
Once you've entered the contract date, what happens if the date varies by agreement during the matter?
You have the ability to change the contracted settlement date throughout the process by editing the Summary tab of your matter. Back to top.
 
Can more than one member be logged in to Settlement Room at the same time?
Yes – absolutely.   The Settlement Room logins that have been issued to non-existing customers of SAI Global Property Searching are firm logins – that is they are generic and able to be used by all users within the firm. There is the ability to set up users within this login and administrators. By doing this, you enable the ability to assign matters to different users within the firm and are also able to track history on each matter, and who completed what actions.   Back to top.
 
We get the invitation to a central inbox. How do we assign the matter to a conveyancer in the office?
There are a couple of scenarios under this situation. A. The matter has been created before you get the invitation. Each matter is automatically assigned to the user who created the matter and therefore it remains assigned to this user no matter who completes the acceptance of the invitation. B. The matter is created from the invitation that is received. In this instance the user who “Creates and accepts” the invitation is automatically assigned the matter. In both scenarios the Account Administrator – who is the only user that has access to “Assign Matter” – can search by matters assigned to each user and choose to allocate specific matters to other users at any point in the process. Back to top.
 
How do we amend the email address for where all notifications are sent to?
You can amend any of your details by contacting our Help Desk on 1300 730 000 option 2 and we will be able to amend where you receive notifications. Back to top.
 
Whilst Settlement Room has an email contact address for me, where do we find the contact point for urgent queries or escalation?
For urgent enquires to the bank, you can find their respective escalation guide via the information icon next to their name in the status box and also in their Ready To Book notification under the "We're Here To Help" section. Back to top.
 
How can you arrange a purchase and sale settlement without the other party "not participating"?   Does it have to be done on the phone?
Yes - if you choose to mark the other party as a non-participant, you will need to organise settlement with that organisation outside of Settlement Room, via phone or email. Back to top.
 
Which banks are using Settlement Room?
HSBC, CUA, Bankwest and Commonwealth Bank are our active Financial Institutions currently using Settlement Room. Back to top.
 
If the bank has made an error, do we call the usual telephone numbers or will the bank have special telephone numbers for us to contact the staff who deal with these issues every day?
At this stage you would use the same people who you would contact today. You can find the bank’s escalation guide via the information icon next to their name in the status box and also in their Ready To Book notification under the "We're Here To Help" section. Once the issue has been rectified, you will see the changes updated in Settlement Room. Back to top.
 
Can Settlement Room manage simultaneous settlement?
At this stage, you will have to process the matters individually as there is no current functionality to 'link' two matters together within Settlement Room. Back to top.
 
Can you remove an assignment of person or file or give the matter back to the original file owner?
Yes you can – you can assign them to the original owner. This is done via the Account Administrator through the Assign Matters tab. In late 2015, we will be providing the ability to choose whether notifications come directly to the one email address for your organisation – those notifications will be able to be to the actual user or matter owner for that file.  Back to top.
Download all General FAQs here.
For more information about how we can help, call our Helpdesk on 1300 730 000 or complete our contact us form and we will contact you.

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