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IMOS On-Prem - Equipment Spot Contract Payments

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Note: Requires the Barging module.

For Equipment Spot Contract Payments:

  • You are creating your payment to the owner.
  • There is no advance payment option.
  • There is no bunker payment option.
  • There is generally only a single payment against each Spot contract.

Making a Payment

To make a payment:

  1. Do one of the following:
    • On the Equipment Contract, click .
    • On the Voyage Manager toolbar, click , hover over Make Equipment Payment, and then click the Contract ID for the equipment you want to create a payment for.
    • In the Operations module center , under Time Charter In, click Equipment Contract Payment. Then, enter the Contract ID.
  2. Specify an Invoice Number.
  3. To add rows to the Hire Payment form using the Item Select form, click .
    1. Select any applicable check boxes and any items to be rebilled and then click OK.
  4. Click  to save the Hire Payment.

Freight Calculation

Freight charges are calculated differently for Spot In and Spot Out contracts.

  • Spot In: The amounts due are calculated based on the rows in the Activity Log Equip In/Out tab whose Contract IDs match the Contract ID of the Equipment Spot In Contract.
  • Spot Out: Spot Out billing is done on an individual voyage basis. Spot Out Contracts are back-created when the voyage is created from a Cargo.
    • The amount due for equipment is calculated based on the amount of time the equipment was used.
    • For M&R periods, the equipment is treated as Off Hire and is not billed to the charterer.


 Related Configuration Flags
CFGTaxOnTaxPST

Causes PST Tax to consider all items on the invoice as taxable, including other tax lines, rather than applying only to non-tax invoice items.

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