Rabbet has a lot of robust functionality, so sometimes it is best to see the basics at a high level. Below is a guide to submitting a draw, with links to other more in-depth articles on additional features.
The six basic stops you will make when packaging and submitting a draw are:
- Create a Draw
- Add Documents to a Draw
- Execute Project Budget Adjustments
- Review Draw Rules
- Manage Funding Sources and Uses in a Draw
- Submit a Draw
1. Create a Draw. After selecting the project and landing on the 'Overview' tab, click on 'New Draw'.
2. Add Document to a Draw. From any tab within the draw, click on the 'Add Documents' button.
Make any necessary document 'Splits' to your uploaded file.
Click anywhere on each document line to review the document details.
For each draw document, make any necessary updates to the form data fields and click 'Save Changes'.
3. Execute Project Budget Adjustments. Navigate to the ‘Line Items’ tab within the applicable draw. Click on ‘Budget Adjustments’.
Select the line items and input the corresponding adjustment amount. Reallocations within the budget should result in a $0 'Net Budget Adjustment'. Any net changes to the total budget will require additional action.
4. Review Draw Rules. If the content of a draw package meets the rule's criteria, then the system will mark the status as 'Passed (Auto)'. If the draw content does not yet pass the rule, then the status will display as 'Pending (Auto)'
5. Manage Funding Sources and Uses in a Draw. Input values for the applicable equity or debt sources to fund the draw amount requested.
6. Submit a Draw. A final review should be done on the draw 'Reviews' tab for a last check of the automatic and manual rules. When you are ready, click on the 'Send Draw' button.
Do you have questions or feedback? Please email us at firstname.lastname@example.org