Create a Quota for a Contract Product

Security Note: You need the Allow contract maintenance security right in the Contracts domain security rights group for this activity.

Activity Steps

  1. Open the Sales Contract or Purchase Contract.
  2. Expand the Contract Products » [Contract Product] node.
  3. Right-click the Quotas node and select New » Quota from the menu.

    Important: The default quota length is one calendar month. The start and end dates can be edited after the quota has been created. If the last quota has the same end date as the contract end date, a new quota can still be specified; however, the default start and end dates of the new quota will be the same as the contract end date. The dates of the relevant quotas must then be edited.

  4. Select the node for the quota below the Quotas node.
  5. Update the following fields as required.
    • Name
    • Start Date
    • End Date
    • Allowed Quantities—Allowed qualities for despatch orders created for the quota. By specifying qualities in contract charge conditions, the despatch order quality can be used to filter the contract charges that apply to a despatch order. If specified, the Quality of despatch orders must be one of the allowed qualities. If not specified, the Quality of despatch orders can be changed to any product or brand. Select from the products and brands defined on the Material panel of the Solution Explorer. If the contract has a specified Material, only products and brands with that material type (or none) display. If Allowed Quantities are specified for the contract product, only those products and brands display.
  6. If Required Mass As Content is checked for the contract, complete the following fields.
    • Required Content Mass—Required mass of the main analyte in the contract product. If a required content mass is entered, MineMarket calculates the required mass based on the target value of the main analyte in the quota specifications. If the basis of the main analyte is dry, the target value of the moisture analyte in the specifications is also considered. Alternatively, if a required mass is entered, MineMarket calculates the required content mass.
    • Content UOM—Unit of measure of the Required Content Mass. Select from the Mass units defined in the Unit Conversion Editor.
  7. Enter the Mass Required and Unit. Default: The Mass Required from the contract product, minus any Delivered amounts for previous quotas. Must be less than the Mass Required of the contract product.
  8. To specify tolerances on the Mass Required:
    1. To specify tolerances using absolute values, complete the following fields.
      • Maximum—Must be greater than the Mass Required.
      • Minimum—Must be less than the Mass Required.

        MineMarket calculates the Maximum % and Minimum % tolerances.

    2. To specify tolerances using percentages, enter the Maximum % and Minimum %.

      MineMarket calculates the Maximum and Minimum.

    3. Update the DO Required Quantity Validation if required. Validation method for the quantity of the despatch orders associated with the quota. If Warning Only or Strict Validation is selected, a Maximum must be entered for the quota. Select from:
      • None (default)
      • Warning Only—If the sum of the required quantity of the (parent) despatch orders exceeds the maximum quantity of the quota, a warning message displays; however, saving the quantity is still allowed.
      • Strict Validation—If the sum of the required quantity of the (parent) despatch orders exceeds the maximum quantity of the quota, a warning message displays and saving the quantity is not allowed.
  9. If the quota is for discrete units, complete the following fields as required.
    • Default Container Type—Default container type for package groups for the quota. Select from the container types defined on the Supply Chain panel of the Solution Explorer.
    • Required Number Of Containers—Default: Zero. Maximum: 10,000. In this context, 'containers' refers to:
      • Package groups created from containers
      • Package groups with a specified container type
    • Package Type—Select from the package types defined on the Supply Chain panel of the Solution Explorer. For package types with limited Allowed Products, only the package types that are applicable to the contract product display.
    • Required Number Of Packages—Default: Zero. Maximum: 10,000.
    • Required Number Of Units—Required number of units within all packages for the quota. Default: Zero. Maximum: 10,000.
  10. Complete the remaining fields as required.
    • Contractual Source—Source location of the material in the quota. Select from the locations defined on the Supply Chain panel of the Solution Explorer. Default: As specified on the Contract Settings node.
    • Contractual Destination
    • Expected Loading Rate
    • Loading Rate Units—Select from the LoadingRates units defined in the Unit Conversion Editor.
    • Contract Term Override—Set of contract terms used to override the default set of contract terms defined for the contract. Select from any set of contract terms set up within the contract. Clicking the ellipsis (...) opens the Contract Explorer, which displays available contract terms.
    • Hedging Required—Whether hedging is required for the quota. If checked, the quota displays in searches for quotas in the Hedging Explorer, and despatch orders for the quota cannot be hedged.

      Note: Quota-based hedging is normally only used for contracts with product pricing, not analyte pricing.

    • Market—If the quota is hedged, the market in which the quota is priced. Select from the markets defined in the Market/Commodity Editor.

    Note: For Mark To Market and MTM Location, see Assign a Set of Mark-To-Market Terms to a Sales or Purchase Contract.

  11. Click Save.