IMOS - Estimated Demurrage

 This is a Key Topic, with high value for all users.

Configuration flag CFGAllowEstLaytime enables demurrage estimating, to make the P&L projection more accurate. When the actual demurrage is entered, it overrides this amount.

1. In the IMOS - Voyage Manager, click , point to Estimated Demurrage, and then click New.
   
2. Enter the Estimated On date.
3. Do one of the following:
   • Enter the Rate Per Day, Days Allowed, and Days Used. IMOS calculates an Estimate of the Demurrage amount.
     For a Tanker, if Days Used is less than Days Allowed, the amount is 0, unless Allow Despatch is selected on the IMOS - Vessel form.
   • If days and rates are not known, enter an Estimate. The Estimate is used on the Voyage P&L until your first Demurrage calculation.
4. Do any of the following:
   • To have the Voyage P&L reflect the percentage of Demurrage and Demurrage Commission you expect to be collected, enter an Accrual %.
   • To include an estimated value for Demurrage in the Voyage P&L, select the Estimate is Provisional check box. Then the value of this Estimate is used in the Actual column until it is superseded by calculated and settled amounts; when you enter any actual amounts, they are subtracted from it.
     • For example, if the Estimate value is $100,000, and you then enter an actual amount of $50,000, the Voyage P&L shows $50,000 provisional and $50,000 actual. If you enter another $60,000 actual, the Voyage P&L shows $110,000 actual and no provisional Demurrage.
     • When the calculation status is Settled, the Agreed Amount is included in the Voyage P&L. When the status is No Demurrage or Canceled, no demurrage or despatch is included in the Voyage P&L.
     • When all Demurrage calculations are done and Claims are created, clear this check box, so that only calculated and settled amounts are represented in the P&L.
     • If this check box is not selected, the estimated demurrage amount is included until the first Laytime Calculation amount is included.

The Estimated Demurrage Amount appears on the P&L tab of the Voyage Manager.