Contracts can be for purchase, sale or other. The 'other' permits the setup of customer-owned storage types (with storage rates) as well as multiple company owned offsite storage facilities. All contract types: Flat priced, Basis, HTA, DP, Inter company, Open Storage, Warehouse Receipt, etc. are user defined with their own user setup, legal verbiage and numbering.
Pricing can be for the entire contract or in any increment; by pricing Unit-Of-Measure which may be different than the contracted UOM. Market Zone adjustments, which consist of accruals and workbacks break the Basis and Price down to Net Basis and Net Price for effective Brought-To-Market valuations. All pricing and MZ adjustments are multi-currency. Only commodities traded on a Futures Exchange require the entry of Futures/Basis/Option Month. The option month can be rolled by contract or batch rolled. All pricing activity automatically creates amendments. Carry, price adjustments, and freight differentials automatically calculate for settlement. 'Settlement splits' can be identified.
- Efficient operation since traders can point & click to enter contracts
- Fast data entry from multiple user defined defaults.
- Contracts can be duplicated with a single click
- Position is updated instantly for every contract change, pricing and ticket application.
- Position is updated instantly for every contract change, pricing and ticket application.
- Professional appearance of all contract/amendments.
- Automatic signing of documents.
- Complete auditing and management control.
- Reduced risk with credit checking
- Better control because customers/vendors have the same id.
- Foundation for reporting, basis analysis, Brought-To-Market.
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