IMOS - Address Commission

Address Commission is a fee paid by vessel owners to charterers, who will then use the commission to help cover business costs. As a result, the total fees incurred by the charterer are reduced by the amount of the received Address Commission.

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Setting Up Address Commission

To set up Address Commission, on the Brokers grid of a TC In or TC Out, complete at least the following fields:

• Broker: Enter XADDCOM. XADDCOM is not technically a broker, but rather acts as a placeholder to trigger the ability for the Veson IMOS Platform (IMOS) to include/calculate Address Commission.

• Rate

• Type

• Payment Method:

  • Deduct from hire: IMOS will generate an Address Commission payment in the TC Payment.

  • Pay Separately and Pay by Counterparty: Address Commission will be accounted for in the Commission section instead of in the TC Payment.

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Creating an Address Commission Payment

To create an Address Commission payment:

1. On the TC In or TC Out toolbar, click .

2. The Time Charter Payment form appears. Click .

3. The Item Select form appears. Do the following:

   1. Select the Address Commission check box.

   2. To save, click OK. IMOS will generate Time Charter Hire data and Address Commission (COMAD) based on the TC Hire (TCHIR) amount on the Time Charter Payment form.