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Contract Header Fields (red cell indicates mandatory field) |
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Field Name | Description |
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Template | Use this to automatically default fields to the template of your choice. Templates can be built / modified via the Contract Template maintenance screen. |
Type | Purchase or Sale |
Entity | Either a customer (Sale) or vendor (Purchase) |
Commodity | What you're selling |
Quantity | The total quantity of the contract along with UOM |
Contract Date | Indicates the date when the document was created |
Entity Contract | Your customer or vendor's contract number |
Contact | Contact person associated with the contract. An email can be sent from here. |
Position | |
INCO/Ship Term | Used to indicate who's paying for the freight. INCO location indicates where ownership changes. |
Country | |
Pricing Type | Type | Description |
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Priced | A price contract allows for the entry of both the futures price and basis amount. | Basis | A basis contract allows the entry of the basis component upfront along with the futures month. The futures price be set before or after delivery. | HTA | An HTA (Hedge to Arrive) contract locks down the futures price but not the basis. Typically, the future price is entered before delivery. | Unit | A Unit contract will allow entry of quantity but not futures price or basis. | DP | A DP (deferred price) contract will not allow entry of futures price, basis nor quantity. Quantity will be incremented upon deliveries. | Cash | A Cash contract is treated the same as Priced but is for a commodity that is not board traded. |
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Contract No | System assigned |
Salesperson | |
Contract Text | Text that prints on the contract. Example: terms & conditions. |
Signed | Checkbox: indicates that the farmer signed the contract. |
Printed | Checkbox: indicates that the contract was physically printed. |
Additional Info Tab | Column | Description |
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Insurance By | | Tolerance% | | Provisional Invoice% | Invoicing for goods ahead of time (similar to a down payment) | Weight for Invoicing | | Crop Year | Indicates what crop year that the delivery came from | Association | Relates to any governing association that is involved with the commodity (an agreement to be bound by the associations rules / regulations). | Arbitration | If there is an issue (exports) which city / state do we agree for arbitration. | Producer | Could be buying from a dealer but want to know who was the original grower. | Claims to Producer | Who will be handling claims when they occur. | Internal Comments | Internal and won't print on the contract. | Printable Remarks | Will show on the contract print. | Price Level | | Substitute Item | | Max Price | | Prepaid | Indicate if there is a prepayment | Unlimited Qty Contract | | Multiple Price | | Conditions | |
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Documentation Tab | Allows the add of external documents to a given contract. |
DMS Tab | Similar to Documentation tab but allows more sophisticated managment of documents. This is an optional module. |
Audit Log Tab | History of the contract history (field level changes). |
Approval Tab | |
Activities Tab | Task managment, intigrated into CRM. |
History Tab | History at the sequence level. |
Sequence Line Item Columns |
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Column Name | Description |
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Sequence | System assigned |
Status | System assigned |
Start Date | Time period for delivery (used mostly for planning). |
End Date | Time period for delivery (used mostly for planning). |
Planned Availability | More for manufacturing. |
Event Start Date | |
Updated Availability | |
Location | Customer's physical location (from or to). |
Book | A way to group business (contracts). Used in reporting and the Derivatives screen. |
Sub-book | The next granular level to Book. |
Contract Item | |
Item | The specific item that is expected to be received for a given commodity. |
Item Specification | |
Origin | |
Purchasing Group | |
Farm No | Setup specific farm that is associated with the sequence. |
Grade | |
Garden | |
Vendor Lot ID | |
Reference | |
Quantity / UOM | Can have different UOM than contract header. Not typical. |
Net Weight / UOM | |
Packing Description | Examples: bulk, bagged, etc. |
Original Quantity | |
Unit/Layer | |
Layers/Pallet | |
No. of Sequences | |
No. of Lots | Number of futures contracts needed to hedge this contract. Not typically used in grain. |
Container Type | |
No. of Containers | |
Market Zone | Used for valuation of grain. Determines where the title (ownership) is transfered during shipment. |
Discount | |
Discount Table | Some grades shrink the volume, some affect the price and some can do both. Can also vary by customer and geographic location. |
Schedule Code | |
Option | |
Split | Allows the ability to split the sequence between mulitiple producers. |
Pricing | Note: the columns in this section will vary based on the contracts price type.Column | Description |
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Fixation By | | Pricing Type | Defaults to the contract pricing type | Currency | | Futures Market | | Mn/Yr | Futures month | Futures | Future price | Basis | Futures plus basis | Cash Price | Comprised of amount and UOM | Total Cost | Quantity x Cash Price |
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ERP | Column | Description |
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ERP PO No | | ERP Item No | | ERP Batch No | |
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FX Tab | Column | Descriptions |
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Invoice Currency | Currency that should be used for invoicing | Fx Valid From / To | | Currency Pair | | Exchange Rate | | FX Price | | Rate Type | | FX Price UOM | | FX Remarks | | Assumed FX for Marginal Risk Report | |
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Miscellaneous Tab | Column | Descriptions |
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Pickup/Deliver | | Ship Via | | Farm Invoice No | | Producer | | Claims to Producer | | Fronting | | Invoice | | Provisional Invoice | | Quantity Final | | Certifications | | Marks | |
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History Tab | |
Activities Tab | |
Events Tab | |
locked in the basis but not the futures price (future month is locked). Can be locked in after delivery.