Here’s a list of common phrases and terminology that you will see when creating contracts and deliveries, as well as when using other features in AgriDigital Onfarm.
Understanding what these terms mean is essential for better transparency and communication between you and other organizations you work with.
Contracts (agreements you have made with other parties)
Contract Date: The date the contract is made.
Contract Type: Indicates whether you are the buyer or seller in the contract.
Currency: The currency used for the contract.
Counterparty: The business you are buying or selling commodities from/to.
Counterparty Contact: The contact person from the counterparty.
Counterparty Reference: This is an optional field when creating a contract, where you may add a reference number for the counterparty that you are trading with.
Commodity: The particular commodity that is being purchased or sold.
Grade: The purity or quality of the commodity to be delivered.
Quantity: The amount of commodity to be delivered.
Qty/Units: The standard measure of quantity to be used for the contract.
Season/Crop Year: Refers to the year of the harvest (e.g., AU 2022/23 or US 2022).
Tolerance: Refers to the allowed variation of the quantity to be delivered on a contract.
Packaging: Refers to whether the commodity is to be delivered in either bulk or bagged.
Price Basis: Indicates the delivery mode of the contract.
Delivered Price Basis: means delivered to a Site, Port, or Delivered Buyer location nominated in the contract, with title passing at the time of transfer.
FOB Farm / Ex-Farm Price Basis: means the goods are delivered when loaded upon an appropriately presented form of transportation at the Seller’s nominated farm.
Free on Board (FOB) / Free on Truck (FOT) Price Basis: means that the Seller must deliver the goods into an appropriately presented truck(s); and Ownership and title passing at the time when the goods are loaded onto the relevant method of transport and accepted by the carrier via the appropriate transport documents.
Delivery start date /Delivery end date: Determines the range of dates in which the contract can be delivered.
Location: The location where the 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 location
Payment Terms: Highlights the conditions under which payment will be transferred from buyer to seller. For example, there may be an agreed upon date for the payment to fall due, or the payment may be delayed until the order is delivered.
Delivery Time: Indicates who will set the delivery time.
Inspections: Indicates where the inspection of delivery takes place.
Weights: Indicates where the delivery will be weighed.
Other Terms: This section outlines any extra conditions of the contract. These terms and conditions are outlined by the buyer at their discretion, and are unique to a specific contract.
Deliveries (physical movements of commodities in and out of your sites and third party locations)
Date: Outlines the date that the commodity is going to be delivered.
Season/Crop Year: Refers to the year of the harvest (e.g., 2019).
From: Indicates the source of the delivery.
To: Indicates where the delivery will be delivered onto.
Vehicle ID: The unique ID that refers to the vehicle assigned for the delivery.
Driver Name: The name of the assigned driver for the delivery.
Commodity: The particular commodity that is for delivery.
Gross: The weight of the truck/transport mode alongside the weight of the commodity itself.
Tare: The weight of the truck/transport mode.
Net Quantity: The weight difference between the Gross and Tare, or the actual weight of the commodity.
Delivery Payment Due Date: Date when payment is due based on the payment terms indicated in the associated contract. It is determined using:
Delivery Date (when the truck arrives at the destination)
Payment terms on the contract
Inventory (your actual stock levels at any point)
My Bins/Organization: all assets stored in your on-farm storage.
All Locations: all assets that your organization owns, across all locations you deliver to.
Settlements/Invoices (payment advice from buyers which details the breakdown of the payment you will receive)
Unpaid delivery: Deliveries marked as completed in AgriDigital Onfarm that are awaiting to be marked as paid.
A delivery is to be marked as paid when you (grower) receive payment into your bank account and receive the settlement (invoice) that indicates the specific deliveries that were paid which make up the total value of the delivery.
💡Note: Only deliveries onto a contract are expected to be marked as paid.
Paid delivery: Deliveries marked as completed and paid in AgriDigital Onfarm.
A delivery is to be marked as paid when you (grower) receive payment into your bank account and receive the settlement (invoice) that indicates the specific deliveries that were paid which make up the total value of the delivery.
Due for payment delivery: Deliveries that are expected to be receiving payments.
💡Note: Only deliveries onto a contract are expected to be marked as paid.
Settlement (Invoice): Payment advice received by the grower from the buyer which details the breakdown of the payment they will receive
RCTI: Recipient Created Tax Invoice; used when the recipient (buyer) of goods and services creates the tax invoice on your behalf (supplier), common in the grains industry
Reconcile / Reconciliation: Cross checking the reference number, count, and net weight of deliveries against those indicated in an RCTI.
Only deliveries marked as completed can be reconciled against a payment.