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cats:questions:how_to_update_marine_insurance_rates [2019/06/11 21:01] – [Marine Insurance Report] amanda | cats:questions:how_to_update_marine_insurance_rates [2019/06/13 15:38] (current) – amanda | ||
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To change the default rate on this report, go to Screen 2 and enter the Insurance Premium in the space provided. | To change the default rate on this report, go to Screen 2 and enter the Insurance Premium in the space provided. | ||
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The rate will save automatically. | The rate will save automatically. | ||
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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. | ||
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- | After you pick **Add**, you will be asked to enter a new code. Enter the code and pick **Apply**. | ||
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- | Enter relevant details about this term and pick **Apply**.\\ | ||
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- | **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** | ||
- | **Connecting Language** - Language to use for appending the field above. If you wrote '' | ||
- | **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 '' | ||
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- | ===Shipment Terms Usage=== | ||
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- | Shipment terms codes can affect other areas of CATS, including the following items: | ||
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- | ===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. | ||
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- | ===Insurance Reports=== | ||
- | The shipment terms can also affect what items are shown on the Marine and Warehouse insurance reports. This is a system setting. | ||
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- | 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. | ||
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- | From this table, you can control how each shipment term affects the marine insurance values. You can also choose to omit/ | ||
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+ | ====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**.\\ | ||
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+ | Next, from the main menu go to **Codes & Terms** > **Cost Codes** > **Marine Insurance Percentage**.\\ | ||
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+ | CATS will call up a table of full and contingency rates based on shipment terms. | ||
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+ | 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. | ||