Keep track of all your contracts in one place.
Important Your buyer or seller needs to be listed as a connection in Settings before you can create a contract with them (see Add a company or contact). Once listed, they will always be available as a drop-down option in the Contract form so you can quickly create contracts with them.
To create a new contract:
- In the left navigation bar, click Contracts.
- On the upper-right portion of the screen, click Create Contract.
- In the screen that appears, start creating a contract by completing the Contract, Counterparty, Pricing, Payment, and Terms sections.
Tip You can refer to the Definition of Terms article to know more about each field.
Note A common field that often requires clarification is the Location field.
Location is the agreed delivered location where ownership of the commodity is exchanged. When selecting a location, you should keep in mind the price basis chosen for the contract, as that impacts where ownership of the grain is exchanged and determines the primary location (see also Price Basis definitions).
For a Delivered price basis contract, ownership is commonly exchanged at the destination. You should therefore choose the destination as the Location.
For a FOB Farm (Ex-Farm) or FOB (FOT) price basis contract, ownership is transferred at the origin, often your farm. Therefore, choose the origin location as the Location.
* You will only have the ability to add one Location per Contract.
Tip You can create and manage your organization’s contract term templates in Settings (see Set-up your organization’s terms and conditions).
- After completing the contract details, click Create.
Tags: Contract - Create - Create a contract