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Instead of manual input into the ‘Hire’ field in Estimate (Voyage), with proper setup in Head Contract, the ‘Hire’ field gets automatically reflected with Daily Hire Expenses. Note that 5.0 Financial needs to be set up properly to automatically reflect the Hire field.
To keep track of past/transferred voyages, Delivery, and Redel info operated under the same Head Fixture at 3.0 Voyages.
Keep track of all Offhires under the same Head Fixture at 4.0 Offhire.
To use the Invoicing feature at 5.0 Financial.
Creating a Head Fixture is not compulsory. If managing Time Charter In and Hire Payment is to be handled outside of the VMS system, there may not be a strong reason to rely on the Head Contract feature.
1.0 Creating a Head Contract
On the Vessel Register, unlock the lock icon.
Click add, and a window opens, as shown in the following image.
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2.0 Contract
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Parties
Fill in the fields accordingly. The Owner and Broker fields are dropdown lists where options are created from the Company Register.
Remarks
The remarks field here can be utilized to input Head Contract Terms for reference purposes.
C/P Done
Fill in C/P and TC#. These fields are free text and do not generate in-running numbers.
Select the Type of charter from the dropdown list.
Duration
Indicate the Duration, one of the main terms in a TC Contract. You may input for the Option period as well.
Terms
Delivery Range, Redelivery Range, and Notices are free text fields.
Input the number of days for Redelivery +/-, Option Declare, and Earliest Notice.
Click on Estimate Dates to generate the values highlighted in yellow in the following image.
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3.0 Voyages
Delivery & Redelivery
Input the Delivery and Redelivery details. Note that these are for reference purposes only and are not used in any Hire Calculation.
Voyages
Any voyages Transferred from the Estimate using the vessel in this Head Contract will be listed here. The following image shows an example of how the voyages are displayed. You can click the blue hyperlink to conveniently navigate to the voyage.
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4.0 Offhire
Any Offhire recorded in the Voyage will be reflected in this list automatically. In the last row, VMS totals the total Offhire Days and Offhire Costs.
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5.0 Financial
Refer to TC Out Voyage, as Financials follow the same logic.
6.0 Linking Head Contract to Estimate/Voyage
Voyages can exist without a link to a Head Contract. Head contracts that are created after an estimate/voyage will not be automatically linked.
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