Ancillary fees related to a contract can be added to Physical, Paper and Vessel deals. You can enter multiple fees for a contract by creating multiple line of fees. Fees entered at the contract level will be automatically copied to Operations -> Fees.

Adding Contract Fees

To add a fee to a contract:

1. Click on to create a new line.
2. In Pay or Receive select if this fee is to be Pay or Receive.
3. In Fee Type select the applicable Fee Type.

*Fee Types are setup in Reference Data -> Fee Types.*

4. In Weighting% enter the fee weighting. Typically it will be 100%.
5. In Amount Type select the applicable Amount Type.

% of Freight: this is used when the "Fee Amount" is expressed as a percentage of the Freight Fee Value. For Example: Address Commission is 2.5% of Freight amount. This requires that a Freight fee be created in the same contract.

% of Transaction: this is used when "Fee Amount" is expressed as a percentage of the Cargo/Transaction Value. For Example: Brokerage is 2.5% of Cargo/Transaction value.

Lumpsum: this is used when the "Fee amount" is a Lumpsum amount.

Unit Rate: this is used when the "Fee amount" is a unit rate to the quantity. For Example: $2 per MT.

World Scale: this is used for Vessel deals.

Total Hire: this is used for Vessel deals.

6. In Fee Amount enter the applicable amount based on "Amount Type" selected.
7. In Ccy select the applicable currency for the fee.
8. In Unit select the applicable unit for the fee.
9. In Counterparty select the applicable counterparty for the fee.
10. In CCy select the applicable settlement currency for the fee.
11. In Due Date Basis select the settlement basis for this fee. The settlement basis will be used to calculate the due date of of the fee.
12. In Specific Due Date select the date if a specific due date is used for the fee.
13. In Settlement Value Rounding select the applicable settlement value rounding to use for fee.
14. In Comments enter any applicable comments.
15. (Inter-entity / Internal) Third party Fee is for Buyer or Seller? can be used on inter-entity or internal deals where the fee is to be for one side or the other and not equal and opposite.

When "Fee for Buyer" is selected, this means that the fee is on the account of the buyer of the internal/inter entity deal.

When "Fee for Seller" is selected, this means that the fee is on the account of the seller of the internal/inter entity deal.

16. Click to confirm creation.
17. To edit fee details after creation click to edit.