To enter an Internal or Inter-entity deal go to Trading and then to the Physical tab.

In CoreTRM, Internal and Inter-entity deals are entered with an Other Book instead of a Counterparty. If the Other Book belongs to the same Booking Entity as the Contract Book then the deal is an Internal. If the Other Book belongs to a different Booking Entity then the deal is an Inter-Entity

Entering an Internal Deal

Entering an Inter-entity Deal

Entering an Internal Deal

To enter an internal or inter-entity deal, in contract panel:

1. Click on to create a new line.
2. In Contract Date select the date of the contract.
3. In Contract Ref enter the applicable contract ref.

*Contract Ref can also be set to be automatically generated. The settings are in Reference Data -> Accounting -> Reference Mask.*

4. In Contract Type select the applicable Contract Type. By selecting the applicable contract type, the commodity dropdownlist in contract item will only show the commodities for the type Commodities Setup.
5. In Contract Book select the book to use for this contract.

*Books are setup in Reference Data -> Books.*

6. In Other Party Type select "Internal" for internal deal or "Inter-Entity" for inter-entity deal.
7. In Counterparty not required for internal deal.
8. In Other Book select the other book to use for this contract.

*Books are setup in Reference Data -> Books.*

9. In Type select the applicable type. select "Spot" for spot deal.
10. In Commodities this will show the list of commodities used in this contract from contract items.
11. In Description enter applicable description for this contract.
12. In Created By this is a read only field which shows the user name who created the contract.
13. In Approval Status this is a read only field which shows the approval status of the contract. The approvals process is not required for Internals.

*More information about Approval can be found in Trading -> Approvals.*

14. In Contract Num, this is a read only field which shows the unique contract id of the contract.
15. In Approval User, this is a read only field which shows the contract's last approver name.
16. In Next Approval User, this is a read only field which shows the contract's next approver name.
17. Click to confirm creation.
18. To edit contract details after creation click to edit.

To enter an internal or inter-entity deal, in contract items panel:

1. Click on to create a new line.
2. In Date select the date of the contract item. The date is defaulted from the contract date in the contract panel but can be changed.
3. In Trader select the applicable trader name who made the deal.

The list of traders is from the user list setup. Contact CoreTRM Support if you wish to add new traders.

4. In Buy/Sell select buy or sell for the contract item from the perspective of the Contract Book.
5. In Quantity enter the quantity of the contract.
6. In Units enter the units used for the contract.

*Units are setup in Reference Data -> Units.*

7. In Commodity select the applicable commodity for this contract. If commodity templates are setup, default pricing terms, fees and specifications will appear after saving the contract items.

*Commodities are setup in Reference Data -> Commodities*

8. In Frequency select the applicable Frequency. Typically, spot deal uses "Once". The other options are for term deals.
9. In Inco. select the applicable incoterms for this contract.

*Incoterms are setup in Reference Data -> Incoterms.*

10. In Location select the incoterm location applicable for this contract. For Example: FOB Singapore.

*Locations are setup in Reference Data -> Locations.*

11. In Start Date Range select the start date range of the contract. For Example: Delivery of April 2023 select 1st April 2023 as start date.
12. In End Date Range select the start date range of the contract. For Example: Delivery of April 2023 select 30th April 2023 as end date.
13. In Price Unit select the price unit to be used for this contract.
14. In Ccy select the currency unit to be used for this contract.

*Currencies are setup in Reference Data -> Currencies.*

15. In Settlement Basis select the settlement basis for this contract. The settlement basis will be used to calculate the due date.

*Settlement Basis are setup in Reference Data -> Accounting.*

16. In Setl.Ccy select the applicable settlement currency to be used for this contract.
17. In Credit select the credit term to be used for this contract.

*Credit terms are setup in Reference Data -> Credit.*

18. In Comments enter applicable comments for this contract item.
19. In Optional? tick this box if your contract involved options for delivery or pricing term. When there are multiple options involved in the contract, multiple contract item lines can be created to represent each option. Optional contract items will not appear in Ops, Accounting or Risk. When the options to use is decided, you can uncheck the appropriate contract items lines.

*From Step 20 to 37, the information is optional, except step 28*.

20. In Min Quantiy enter applicable max quantity allow in this contract.
21. In Max Quantity enter applicable min quantity allow in this contract.

*If Min and Max Quantity are used step 19 to 21 is not required and vice versa.

22. In Tolerance select applicable tolerance type. If Torelance is selected, fill up "Amount" and "Unit"
23. In Amount enter applicable amount for the tolerance. For example, 5 % Plus/Minus.
24. In Unit select the applicable unit for the tolerance.For example, 5 % Plus/Minus.
25. In Tolerance By select the applicable Tolerance By for this contract item.
26. In Governing Law select the applicable Governing Law for this contract item.

*Contact CoreTRM support if you required more Governing Laws to be setup.

27. In General Terms and Conditions select the applicable GT and C for this contract item.

*GT and Cs are setup in Reference Data -> GT and C.*

28. In Invoice Quantity select the applicable event in which the final settlement should be based on. This will also default the event in Operations -> Transactions -> Dates and Quantities.

*LC issuance date will be calculated using information provided in step 29 to 33. This date will be populated in Operations -> Transactions -> Pricing Summary -> LC Due Date*.For Example, LC Due Date is 5 Business Day Prior to NOR. Alternative a specific due date can be specify in step 34.

29. In LC Issuance enter the number of days to use for the system to calculate LC Due Date. Example: 5.
30. In LC Issuance Type select the applicable LC issuance Type to use for the system to calculate LC Due Date. Example: Business Days.
31. In LC Issuance Calendar select the applicable calendar to use for the system to calculate LC Due Date. Example: US Banking.
32. In LC Issuance Prior/After select the applicable Prior/After to use for the system to calculate LC Due Date. Example: Prior
33. In LC Issuance Event select the applicable Event to use for the system to calculate LC Due Date. Example: Notice of Readiness.
34. In LC Issuance Specific Date select a specific date for the LC due date. If this option is used, step 26 to 30 is not required.
35. In Demurrage Laycan Hours enter the agreed demurrage hours. For example: 48
36. In Demurrage Laytime Allowance Hours, enter the agreed allowance hours for demurrage. For example: 6.
37. In Demurrage Laytime Daily Rate enter daily rate of demurrage.

*Demurrage to be paid can be calculated with the information from step 35 to 37. This can be found in Operations -> Demurrage*

38. In Price Rounding select the applicable price rounding to use for the calculated commodity price.
39. Click to confirm creation.
40. To edit contract item details after creation click to edit.

To enter an internal or inter-entity deal, in pricing items panel:

1. Click on to create a new line.
2. In Price Type, select the price type applicable for the pricing item. Typically, "Standard" will be used for most pricing type.

"Quantity" and Balance" can be combined for different pricing based on initial quantity and remaining balance.

3. In Pricing Amount enter the pricing amount relative to the unit. Typically, it will be in 100%.
4. In Unit select the unit applicable to the pricing. Typically, it will be in %.
5. In Fixed Price enter a fixed price if the deal is based on Fixed Price .
6. In Price Series select the price series to be based on for the pricing if this is not fixed price.

*Price Series are setup in Price Data -> Price Series*

7. In Forward Period select applicable forward period if Price Series selected is a Forward Price Series.
8. In Formula select applicable Formula if Formula is to be used for pricing.

*Formula are setup in Price Data -> Formulae*

9. In Price to Use select the applicable Price to use.

Around Event: this is used when the pricing is based around an event. For Example: 5 Days around BL.

Last Day of Event Month: this is used when only the last day of the month price is used. For Example: OSP Prices.

Specific Dates: this is used to specify a specific pricing period. For Example : 1st Jan to 15th Jan 2023.

Whole Month Average: this is used when the pricing is based on pricing quotes for a whole Month average. For Example: Whole Month of Average BL Month.

10. In Pricing Event select the applicable event to used when "Around Event", "Last Event Month" or "Whole Month Average" is used.
11. In No. of Days Before enter the number of days of prices to use before an event . For Example: 2.
12. In Prices on Event enter 1 to count the event date as price date or 0 not to count the event as price date.
13. In No. of After Before enter the number of days of prices to use after an event . For Example: 2.
14. In Specific Start Date select the applicable start date if "Specific Dates" is used for "Price to to Use".
15. In Specific End Date select the applicable end date if "Specific Dates" is used for "Price to to Use".
16. In Ccy select an applicable currency to use for the pricing.
17. In Unit select an applicable unit to use for the pricing.
18. In Premium/Discount enter an applicable Premium/Discount amount.
19. In Ccy select an applicable currency to use for the premium/discount.
20. In Unit select an applicable unit to use for the premium/discount.
21. In Price Rounding select an applicable price rounding to use for the pricing.
22. In Event Weekend Rule if applicable, select an Event Weekend Rule to use. This will determine the which event dates to use if the event date falls on a weekend.

Exclude: this will exclude the date from the pricing dates.

Next: if the pricing date falls on weekend, next Monday (if not holiday) will be used.

Previous: if the pricing date falls on weekend, previous Friday (if not holiday) will be used.

Split: if the pricing date falls on Saturday, Friday will be used or If the pricing date falls on Sunday, Monday will be used.

23. In Price Fixed Floor Price enter applicable amount to set a Fixed Floor price. In the event the calculated price is lower than the floor price, the fixed floor price will be used.
24. In Price Fixed Ceiling Price enter applicable amount to set a Fixed Ceiling price.In the event the calculated price is higher than the ceiling price, the fixed ceiling price will be used.
25. Click to confirm creation.
26. To edit pricing item details after creation click to edit.

*To enter internal or inter-entity deals for Paper, the process is similar to entering a Physical deal.*