The contract item screen represents a single trade on a contract. Every contract (purchases and sales) must have at least one item. Items are identified as unique by their Description code and an Optional Identifier code. Allocations are created by tying a sales item to a purchase location screen.

A Contract Item Screen

You may choose to create more than one item on a contract if any of the following information is different:

1. Price (fixed or differential).
2. Position (trading, shipment or valuation).
3. Grade/Description.
4. Destination.

If you wish to have two items with the same description on the same contract, you can use the Optional Identifier field.

You can access the contract item screen in four ways.

To go directly from the Main menu to an item screen, pick Contracts > Purchases or Contracts > Sales, then select Item.

Select Contracts > Purchases or Sales > Item

Enter the contract number to look up, then select Continue to proceed.

If there is more than one item on the contract, you will be asked to select the item from the Contract Item Chooser. Highlight an item, then click on the Continue button.

Select the Item then pick Continue

You can click the Item menu choice to see a list of items.

You can also double-click on an item in the grid.

Finally, you can click on the blue link that shows the description and optional identifier.

Ways to Access a Contract Item

Here is a description of each section of the item screen and what it is showing you.

The top of the screen shows summary information, with links to the contract main screen, the location screen and any sales. You can also see the contract date, counterparty, country and shipment terms.

Summary Information on the Item Screen

This is a purchase item for grade “BRA”. It has one location screen (#0002172“) and 2,000 Bags have been allocated. The vendor for this purchase is “MYSHIP”, the country is “BRAZIL” and the shipment terms are “FOB”.

To the right of the contract information is the trade analysis which lets you do a quick assessment of the trade. This shows the contract price, the estimated exdock cost, the market price as entered in CATS, and the profit on this individual trade. If the contract was TBF or partially hedged then CATS would also display the average hedge price.

The contract has been fixed at $2.10 USD/LB. It has an estimated ex-dock value of $2.10 USD/LB and an estimated market price of $1.8519 USD/LB. (The entered market price for ICE is displayed as $1.9519 USD/LB).

Below the contract and price information is the total bags, weight, and amount.

There are 2,000 Bags, each weighing 69KG. The total weight is 138,000 KG (or 304,234 LB). The total cost of the material is 638,893.08 USD.

The shipment position is July 2014. The destination is “NEW YORK”. The exchange is “ICE”. The Note is filled in automatically from the grade description file and can be used to populate the contract confirmation.

CATS is automatically valuing this material at SPOT (since the shipment period has passed) and is using a valuation of 10 cents under September ICE. (Click on the position date to see information about that particular position).

The purchase item has been price fixed at $2.10 USD/LB. The hedge was done at $2.25. The final price was calculated using a differential of 10 cents under September ICE. We had eight lots to fix, and the price fixing was completed July 2014.

This example does not show the individual costing options. Use the “Tran” menu to add and review costs. Costs can be estimated on each individual contract item based on weight, units, percentages, etc. These costing records can then be applied to vendor invoices.

Different sections of the item screen are managed under each menu option. This allows users to access only certain areas of the item screen.

Create a new item. You will be asked if you wish to copy an existing contract item.

Change the units, unit weight, or total weight on the item. You can also change the basis for the weight (for example, from per KG to per LB).

Change the shipment information.

Change the fixed price.

Change the differential price. If the price has been fixed, you will need to zero out the fixed price before CATS will allow you to change the differential.

Add and review hedging/fixing information.

Review detailed information about this trade, including cost of inventory.

Edit how CATS values the material and recalculate the valuation.

Add financing/collateral type.

Add & review transportation costs.

Add & review cost estimates.

Edit just the note.

Switch to viewing sale contract items.

Links ● Click on the Purchase Contract Number to go to the Contract Main Screen. ● Click on the grade code to see the grade/description code dialog. ● Click on the location screen number to go to the location screen (if the item has multiple screens it will show a list). ● Click on the number of allocated bags to view a list of allocations for this item. ● Click on the counterparty account code to go to the Account Screen ● Click on the country code to see the country code dialog. ● Click on the shipment terms to see the shipment terms dialog. ● Click on the exchange to see the exchange code dialog. ● Click on the position to see the position dialog.