Home > Chartering > Unpriced Component
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Configuration flag CFGEnableGeneralUnpricedComponent must be enabled. This is a ‘hidden’ flag. |
An Unpriced Component is a contractual item that has an amount linked to a market index. You can add multiple Unpriced Components to a contract.
On a Cargo, VC In, Time Charter In, or Time Charter Out contract, click Add Unpriced Elements.
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On the Unpriced Component form, do any of the following:
Add remarks to the field at the top (up to 512 characters).
Click + to add a set of fields for each component and complete them.
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In the General section, you can define the Unpriced Component and its market curve details.
The Unpriced Component form includes Settlement Curve and Forward Curve fields, enabling users to select two symbols in case the settlement curve does not have forward rates.
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You can create the following Components:
For Cargoes and VC Ins:
Component | Subtype |
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$/MT | N/A |
Model TC | N/A |
Model Fuel Types | Fuel types |
Model TC Inbound | N/A |
Model Fuel Types Inbound | Fuel types |
BAF (Bunker Adjustment Factor) | Fuel types |
Price Index | CPI |
Demurrage (Informational) | N/A |
For Time Charter contracts:
Component | Subtype |
|---|---|
Hire | The different Hire periods |
BOD (Bunker on Delivery) | Fuel types |
BOR (Bunker on Redelivery) | Fuel types |
Ballast Bonus TC | N/A |
Ballast Bonus Bunker | Fuel types |
Averaging Period
On the Averaging Period Grid, specify a time window during which the average market price is calculated.
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Fill Days: When Holidays or All option is selected, make sure that holidays have been specified in the Data Center Holiday Calendar so those dates will populate based on the Fill Rule specified.
Fill Rule: The Fill Rule specifies where the price is to be taken from. When Last Spot Pricing is selected, the price will be the last spot price on the curve on or before the Event Date.
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After you close the Unpriced Component form, you can click Edit Unpriced Elements to edit the Unpriced Components.
Invoicing Unpriced Components
On the Freight Invoice, you can view Unpriced Components, override the Market Rate, and view the Unpriced Component Rate Breakdown report.
On Voyage Details, click Freight and then click Freight Invoice.
Type a Counterparty for the Freight Invoice. The Unpriced Components tab appears on the Cargo grid:
Do any of the following:
To override the Market Rate, edit the Market Rate field.
To view the Unpriced Component Rate Breakdown report, right-click the line and click Rate Breakdown.
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