Home > Chartering > Unpriced Component
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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:
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After you close the Unpriced Component form, you can click Edit Unpriced Elements to edit the Unpriced Components.
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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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For TC Contracts with Unpriced Components, right-click the Hire line on the contract, then click Show Rate Breakdown.
On the Freight Invoice Unpriced Components tab, right-click the line and click Rate Breakdown.
For Cargo contracts with $/MT, Model TC, Model Fuel Types, Model TC Inbound, and Model Fuel Types Inbound Unpriced Components, click the Frt Rate value.
To indicate that the Cargo has an Unpriced Component, the Freight Type field turns bright pink:
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Unpriced Elements without an Index Integration
Unpriced elements can be used to calculate complex variables for a freight rate without the use of an integration, albeit with a manual price entry. The setup is similar to the above description with some things to note:
BAF setup:
Settlement Curve: This has not been filled out, however it is a required field.
Structure Table: Level is the base bunker price for a contract. The correlation is a static figure which is a contract value. It can be a given in the contract or sometimes calculated by a bunker surcharge divided by the base price.
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In a freight invoice, an average price for a given voyage can be manually entered as below:
This will calculate the Bunker Surcharge:
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