Overview
When you send a Commercial Source of Funds request via Engage, your client completes their submission through Legl's end-client interface. This article explains what the client experiences at each stage, so you know what to expect and can answer questions if they get in touch.
How this works
1. The client receives the request
The client receives either an email from Legl with a link to their request, or a shareable link that you have sent them directly. Both routes take them to the same Engage interface.
When they open the request, the client enters the total transaction amount they need to account for before declaring their sources of funding.
2. The client declares their sources of funding
The client selects each source of funding and enters the relevant details, including the amount. The available source types cover common commercial funding structures such as director's loans, capital injections, and external investments.
The client must account for the full transaction amount across their declared sources. If the total they have declared does not match the required amount, they are prompted to add further sources or explain any shortfall before they can submit.
3. The client provides bank statement evidence
Once sources are declared, the client is asked to provide bank statement evidence. They can either connect their bank account via open banking, or upload bank statements manually as PDF files.
Legl encourages clients to use open banking where possible, as this produces richer analysis for the firm. If a client chooses to upload manually, Legl will attempt to extract and analyse the data automatically. Where automated extraction is not possible, the firm will need to review the uploaded statements manually.
4. The client explains any flagged transactions
If Legl identifies transactions that may warrant further context, such as large cash deposits, cryptocurrency transactions, or foreign currency payments, the client is asked to provide a brief explanation for each one before submitting.
5. Delegating a source to a third party
If part of the funding involves a third party, such as an investor, the client can delegate that source. They generate a link and share it with the third party directly. The third party completes their own submission using that link, and their contribution is connected to the main application automatically.
The delegated source shows as pending in the client's view until the third party submits. The client does not need to wait for the third party before submitting the rest of their application.
6. The client reviews and submits
Before submitting, the client sees a summary of their declared sources and evidence. Once they are satisfied, they submit the application. You are notified when the submission is complete and the results are available for you to review in Legl.
What triggers this
This process begins when you send an Engage request using a workflow that includes a Commercial Source of Funds step.
What you will see
Once the client and any delegated third parties have submitted, the full results are available on the Commercial Source of Funds review page. See How to review a Commercial Source of Funds application.
Important information
The client generates and sends the delegation link themselves. Legl does not contact third parties directly on the firm's behalf. If a third party has not completed their section, the client is responsible for following up with them.
If a client uploads bank statements that Legl cannot process automatically, this will be indicated in the review. You will need to review those statements manually.
Clients can save their progress and return to the request later using the same link. They do not need to complete it in one session.
If a client contacts you with questions about how to complete the request, direct them to How to complete a Commercial Source of Funds request.