cats:questions:how_to_update_marine_insurance_rates

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cats:questions:how_to_update_marine_insurance_rates [2019/06/11 20:57] – amandacats:questions:how_to_update_marine_insurance_rates [2019/06/13 15:38] (current) – amanda
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 =====How to Update Marine Insurance Rates===== =====How to Update Marine Insurance Rates=====
-Depending on your company's settings, your marine insurance rates are stored in one of the following three ways:+Depending on your company's settings, your marine insurance rates are stored in **ONE** of the following three ways:
   * Traffic/Insurance report   * Traffic/Insurance report
   * Product Categories   * Product Categories
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 The marine insurance report is used to report the units, weight, and value of items that are afloat as of the end of a particular month. The marine insurance report is used to report the units, weight, and value of items that are afloat as of the end of a particular month.
  
-To change the default rate on this report, go to Screen 2 and enter the Insurance Premium.+First, select your Marine Insurance report from the list of saved reports, then pick **Modify**.  
 + 
 +To change the default rate on this report, go to Screen 2 and enter the Insurance Premium in the space provided.  
 +[{{:cats:questions:traffic:marineinsurance_premiumontrafficreports.png|Change the Insurance Premium rate on Screen 2 to change the system default rate.}}] 
 +The rate will save automatically.  
 +<note>This rate will only be used for items that do not have a category or term rate.</note> 
  
 Print this report as normal and use the totals to report your insurance. Print this report as normal and use the totals to report your insurance.
- 
 ====Using the Product Categories Scan==== ====Using the Product Categories Scan====
 You can set a separate marine insurance rate for each category of material in your system. To change these rates, go to **Codes & Terms** > **Product Codes** > **Product Categories**. You can set a separate marine insurance rate for each category of material in your system. To change these rates, go to **Codes & Terms** > **Product Codes** > **Product Categories**.
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 If you enter insurance rates for this category, CATS will use this insurance rate for marine FOB, marine CIF, inland, and warehouse insurance rates instead of the system-wide default rate.  If you enter insurance rates for this category, CATS will use this insurance rate for marine FOB, marine CIF, inland, and warehouse insurance rates instead of the system-wide default rate. 
-====Shipment Terms==== 
-The shipment terms are codes CATS uses as shorthand for the terms you have agreed to with your counterparty on a contract. Shipment terms can be created to indicate Free On Board; Cost, Insurance & Freight; Cost and Freight; Exdock, or any other terms you need to use. 
- 
-[{{:cats:procedures:codes:code_terms_shipmentterms.png?direct|Scanning the Shipment Terms}}] 
- 
-After you pick **Add**, you will be asked to enter a new code. Enter the code and pick **Apply**.  
-[{{:cats:procedures:codes:terms_shipmenttermsadd.png|Enter a Code for the New Shipment Term}}] 
- 
-Enter relevant details about this term and pick **Apply**.\\  
-[{{:cats:procedures:codes:terms_shipmenttermsedit.png|Entering the Terms Detail}}] 
- 
-**Form of Contract** - Allows you to associate these terms with a confirmation template, for use of specific language as noted below.\\  
-**Show on invoice** - Choose to display the full text of the **Description** field on the invoice instead of just the grade code. \\  
-**Append Field**  - With this drop-down box you can select to add the Origin code, Origin Long Name, Destination code, or Destination Long Name to the contract terms when they appear on the confirmation. \\  
-**Connecting Language** - Language to use for appending the field above. If you wrote ''**From Origin**'' in this field, and elected to add the Origin code above, you would see ''**From Origin: BRAZIL**'' (for example) on the confirmation. \\  
-**Language for Contract Conditions** - If nothing is entered here, CATS will use the **Description** field instead to populate the **Terms** field of the contract confirmation. \\  
-**Language for Contract Type** - If you choose to associate the terms with a contract template (see above), you can choose the language to appear here. So if you associated this term with the CIF contract confirmation template, you could write ''**CIF Contract**'' and it would show up on the contract confirmation.  
- 
-===Shipment Terms Usage=== 
- 
-Shipment terms codes can affect other areas of CATS, including the following items: 
- 
-===Mark to Market Pricing=== 
-Shipment terms are used by CATS to determine how material will be valued. If an item is entered as FOB, then no further calculations are required to determine the market value of that item, if your system setup uses FOB valuation of open contracts. This is a system setting.  
-[{{:cats:procedures:codes:terms_marktomarketsystemvariable.png|Setting to Use Terms to Value Contracts}}] 
- 
-===Insurance Reports=== 
-The shipment terms can also affect what items are shown on the Marine and Warehouse insurance reports. This is a system setting.  
-[{{:cats:procedures:codes:terms_marineinsurancemethod.png|Marine Insurance Method Using Terms}}] 
- 
-Also, if you are using a marine insurance percentage table, the terms can be set up to use different rates based on each shipment term. This is an option available to you in CATS.  
-[{{:cats:procedures:codes:terms_marineinsurancetable.png|The Marine Insurance Terms Table}}] 
- 
-From this table, you can control how each shipment term affects the marine insurance values. You can also choose to omit/include sold material if it has a particular term attached to it. 
- 
  
 +====Insurance Rate Table====
 +If you have the System Setting selected to use a separate marine insurance rate table, you can use this table in CATS to set specific rates based on matching material to a template. 
  
 +Go to **Maintenance > Setup > System Setup > System Settings** and check the box next to **Use marine insurance table to filter records**.\\ 
 +[{{:cats:questions:traffic:marineinsurance_usetabletofiltersetting.png|The system setting to "Use marine insurance table to filter records".}}]\\ 
 +Next, from the main menu go to **Codes & Terms** > **Cost Codes** > **Marine Insurance Percentage**.\\  
 +[{{:cats:questions:traffic:marineinsurance_marineratetableaccess.png|Accessing the Marine Insurance Percentage table.}}]\\ 
 +CATS will call up a table of full and contingency rates based on shipment terms.
 +[{{:cats:questions:traffic:marineinsurance_marineratetablescan.png|Scanning the Marine Insurance Rate table.}}]\\ 
 +Here you can add or change rates based on the **Shipment Terms**, which come from the contract main screen.
 +If CATS finds a location screen that matches the shipment terms in this table, it will use the rate you have indicated here.
  
  
  • cats/questions/how_to_update_marine_insurance_rates.1560286661.txt.gz
  • Last modified: 2019/06/11 20:57
  • by amanda