IMOS - Equipment Hire Rate Differentials

You can use Equipment Hire Rate Differentials to adjust Hire Rates during an Equipment Contract.

• Some Rate Differentials apply to the characteristics of an individual piece of equipment. For example, if a boat swapped into the Tow has a higher-horsepower engine than the one originally under the contract, a premium might be charged for this boat. This would be handled via a rate differential attached to the boat when it is added to the voyage.
• Another type of Rate Differential could include additional daily charges for traveling west of Corpus Christi or east of New Orleans. This would be handled on the Activity Log - Barging, since these are typically included in the traffic reports provided by the owners.

On the Data Center menu , under Charter Party Terms, click Equipment Hire Rate Differentials.

The names of the Rate Differentials and their user-defined Bill codes appear.

• The Subcode must match a code in the Operations Ledger. 
• The Subcode is used in Equipment Contracts when you make Hire Payments or when you issue a bill to a charterer.