The purpose of this article is to define the common phrases and terminology that you will see when creating contracts and deliveries, as well as when using other features that AgriDigital offers. Understanding what these terms mean is essential for better transparency and communication between you and your client.
Refers to the year of the harvest (e.g. 2016-2017)
This section outlines the particular commodity that is being purchased/sold.
Price (Excluding GST)
Shows the price (excluding GST) that is set by the buyer and agreed upon by the seller.
Contract type outlines whether you are the buyer or seller on the contract. Furthermore, the contract type outlines whether the quantities and prices of the commodity will be measured in metric tonnes (MT) or hectares (Ha).
The price basis indicates the delivery mode of the contract.
The counterparty field indicates the business you are buying or selling commodities from/to.
This is an optional field when creating a contract, whereby you may add a reference number for the counterparty that you are trading with.
The base grade is simply a reference point for the prices of other grades. After setting the price for a particular grade, any additional grade will be priced as a spread from this grade. For example, if you buy APW1 for $200/MT, and wish to purchase AGP1 for $198, then you would simply state the spread of AGP1 as -2 (as it is $2 less than the base grade).
Add Another Grade
This allows you to add another grade. When you add another grade, you do not set a price for the grade but, rather, set the spread of the grade relative to the base grade. For example, you might have a base grade price of $150/MT and a secondary grade price of $160, then you would simply type $10 into the spread for your secondary grade.
Total quantity refers to the amount (in metric tonnes) of the commodity specified on the contract. Note that, in the event that there are multiple grades selected in the contract, the total quantity refers to the combined total of all of these grades. You cannot outline the specific quantity of each grade in the contract (this feature will be coming soon).
The base price is simply the price, in AUD, of the base grade per metric tonne.
Select the delivery location for the commodity to be delivered on the contract.
The add location function allows the buyer to add a secondary delivery location. The purpose of this is to accommodate for any difficulties that a grower may have in delivering to a given site.
The location spread is the value that is added/subtracted from the commodity per metric tonne should a grower deliver their product to an alternative location to the primary location outlined in the contract. For example, a contract that outlines a base price of $200 and a spread of -$5 for an alternative delivery location indicates that the grower will receive $195 per metric tonne delivered to the alternative delivery site.
Time of Delivery
The time of delivery field simply allows the user to set conditions around the time in which the commodity is delivered to the desired location.
Refers to whether the commodity is to be delivered in either bulk or bagged.
Displays the destination in which the weight, according to the contract, is verified.
Displays the location in which the delivery's quality is verified.
Refers to the allowed variation of the quantity to be delivered on a contract.
Determines the range of dates in which the contract can be delivered.
Determines whether the contract is priced flat, or with a premium and discount table.
Is an increase to the base price on a contract over time.
Determines the regularity that carry is applied
Carry Start Date
Is the date in which the carry fee commences.
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. The payment terms can have additional customised options added to it by you, as the user. To learn how to do this visit the Add new payment terms article
Contract Terms and Conditions
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. The terms and conditions can have additional customised options added by you, as the user. To learn how to do this visit the Add new contract terms and conditions article
Select the location for the commodity to be delivered to.
Outlines the date that the commodity is going to be delivered.
Indicates the Grower from which the commodity is being purchased.
Registration of the delivery truck.
The state or territory that the truck was registered within.
Indicates the type of truck that will be delivering the commodity.
Refers to the name of the delivery truck driver.
Is the paddock reference quoted to a bulk handler delivery site, upon delivery, by the driver.
This field displays the commodity that is in question for delivery.
Is the variety of the commodity delivered by the grower and is captured by the bulk handler upon delivery.
Gross Weight Start
The measured weight of the truck before unloading.
Gross Weight End
The measured weight of the truck after unloading.
The grain details are the specifications of each individual delivery of the commodity which determines it's grade.
Displays the grade of the commodity as a reflection of the qualities and characteristics indicated in the grain details above.
Is the grade chosen by the bulk handler.
Any additional comments that you may have when creating the delivery. This may be comments on the grade of the product, or it could be extra instructions for delivering the product.