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The pool management Company may charge Participants for management fees/commissions. To incorporate Pooling Management Fees into your workflow, make sure configuration flag CFGPoolCommByAccount is enabled and then do the following:
- VIP - Set Up Pooling Management Fee Accounts
- Assign Pooling Management Fee by VesselVIP -
- Run Pooling Management FeeDistribution
Set Up Pooling Management Fee Accounts
Although the Pooling Management Fee is expressed as a percentage of gross revenues, it does not have to apply to all types of revenues. It is calculated only on those gross revenues falling into an account for which the Mgt check box is selected on the Chart of Accounts form.
To include a particular type of revenue in the Pooling Management Fee calculation, select the Mgt box in the applicable row.
Assign Pooling Management Fee by Vessel
On the Pool Assignment form, enter Mgt Fee % (percentage of the Income After Pooling) or Mgt Fee/Day (flat daily rate) for each vessel.
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- The percentage is applied on the gross revenue.
- The sum of all results in the pool is the Gross Commission.
- The percentage is applied on the weighted days (Pool Days * Vessel Points), which gives the Commission Weight for that vessel.
- The Pooled Commission is calculated by the Commission Weight applied on the Gross Commission.
- To include off-hire days in the calculation of daily management fees, select OH on the Pools or Pool Assignment form.
Run Pooling Distribution
After running the Pooling Distribution, the Mgt Fee column is populated with the Pooling Management Fee calculated.
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