Specify 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. Right-click the Contract Products node and select New » Contract Product » {Product or Brand] from the menu. The menu displays 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 display.
  3. Select the node for the contract product.
  4. Update the following fields as required.
    • Name—This contract product name is used in all invoices, and may be changed to a more meaningful name for the organisation.
    • Allowed Nominations—Allowed products for despatch orders (DOs) created for the contract product. If specified, the Nominated Product of DOs must be one of the allowed nominations. If not specified, the Nominated Product of despatch orders can be changed to any product. Select from the products and brands defined on the Material panel of the Solution Explorer.
    • Allowed Qualities—Allowed qualities for quotas and DOs created for the contract product. By specifying qualities in contract charge conditions, the DO quality can be used to filter the contract charges that apply to a DO. If specified, the Allowed Qualities of quotas and the Quality of despatch orders must be one of the allowed qualities. If not specified, the Allowed Qualities of quotas and the Quality of DOs 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.
  5. 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 contract product 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.
  6. Enter the Mass Required and select the Quantity Units from the Mass units defined in the Unit Conversion Editor. Default: The Default UOM of the contract.
  7. 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 DOs associated with the contract product. If Warning Only or Strict Validation is selected, a Maximum must be entered for the contract product. Select from:
      • None (default)
      • Warning Only—If the sum of the required quantity of the (parent) DOs exceeds the maximum quantity of the contract product, a warning message displays; however, saving the quantity is still allowed.
      • Strict Validation—If the sum of the required quantity of the (parent) DOs exceeds the maximum quantity of the contract product, a warning message displays and saving the quantity is not allowed.
    4. Select whether to Use DO Required Quantity Until Minimum Quantity Despatched. If unchecked, the minimum tolerance has no impact on the Current Quantity of DOs. (The Current Quantity displays in the despatch order snapshot.) If checked, the Current Quantity of a DO is the Required Quantity of the DO until the quantity relevant to the Despatch Fulfilment Type of the DO equals or exceeds the minimum quantity for the DO. The minimum quantity is calculated as the Required Quantity of the despatch order minus the Minimum % of the quota if the DO is in a quota, or else the Minimum % of the contract product. Example, a DO with a required quantity of 80 mt and a minimum percentage tolerance of 10% has a despatch fulfilment type of By Loading Transactions. If only 70 mt is loaded, the current quantity is considered to still be 80 mt. However, if 72 mt are loaded, the current quantity is the loaded quantity of 72 mt.
  8. Complete the remaining fields as required.
    • Expected Loading Rate
    • Loading Rate Units—Select from the Loading Rates units defined in the Unit Conversion Editor.
    • Package Type—Type of package used to despatch the product. Only applicable to products that can be packaged in discrete units. 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.
    • Description—The description inherited from the Product or Brand can be overridden for the individual contract product.

    Note: Some contract product fields are described in Assign a Set of Mark-To-Market Terms to a Sales or Purchase Contract and Configure Despatch Order Fulfilment for a Contract Product.

  9. Click Save.