IMOS - Equipment Contract

Note: Requires the Barging module.

Equipment Contracts are similar to Time Charter contracts. An Equipment Contract governs the hire rate of the contractual period, the location and time for the boats and barges to be claimed and returned, and the conditions for their use. An Equipment Contract is not associated with a particular Tow.

Equipment Contracts support separate rates for boats and barges. If you have the appropriate Module Rights selected (under Time Chartering in Chartering and Operations), you can manage payments and issue invoices for boat and barge owners for the actual time each piece of equipment was on hire.

To access the Equipment Contract form:

• On the Chartering menu

  

  , under Time Charter Manager, click Equipment Contract.
• On the Operations menu 

  

  , under Time Charter In, click Equipment Contract.
• In a Voyage, click the Contract ID link.

TC In

Spot In

• Upon saving the contract, a Contract ID is automatically created using the following formula:
  Reference No. + last two digits of the current year + T (for Time Charter Contracts, or S for Spot Contracts) + four-digit sequential number
• The Summary Tree is at the right; it summarizes and provides access to important forms and related information. You can attach and access documents or links.
  

About Equipment TC Contracts and Equipment Spot Contracts

You can create TC In/Out or Spot In/Out Equipment Contracts.

• An Equipment TC In or Equipment Spot In Contract is with an Owner; an Equipment TC Out or Equipment Spot Out Contract is with a Charterer.
• Spot charters based on daily rates are represented by Equipment Spot In or Equipment Spot Out Contracts.
• A single Equipment Spot In Contract cannot be applied to more than one voyage.
• For Equipment Spot Contracts, a COA field is provided, so you can record the COA applicable to the spot cargo.
• The Brokers grid on the Equipment Spot Contract parallels the Brokers grid on a Cargo contract.

Toolbar

• Use tools on the toolbar to create, retrieve, save, copy, or delete records.

• 

  : Open the Hire Payment form to create a payment/bill.

• 

  : Open the TC Commission Payment form to view and create Commission Payments.

• 

  : Open the Equipment History list to view all the equipment that was used during the life of the contract.

Summary Tree

The Summary Tree, at the right, summarizes and provides access to important forms and related information.

• To expand 

  

   or collapse 

  

   a section, click the arrow next to it.

• To open a form, click its name.

• You can attach and access documents or links.

Contract Information

Add information about the contract.

Hire Information

For TC In or TC Out Equipment Contracts, add the Delivery and Redelivery ports and times.

Daily Rates Grid

Add Daily Rate information for boats and barges.

• You cannot have two rates in effect for the same boat or barge on the same day. To do this, you can use a Rate Differential.

Differentials Grid

Select the Rate Differential types you want to use for this contract.

Brokers Grid

Add information about Brokers and Broker Commissions.

Notice Tab

On the Notice tab, you can track Delivery and and Redelivery Notices.

This tab allows you to establish a series of points in time, measured in number of days prior to delivery or redelivery, at which your company is contractually required to provide notification of its intention to take delivery of/redeliver the vessel. You can also record whether each required notice has actually been sent.

Notification emails are not automatically sent; this must be done manually. Alerts are not generated regarding the need to send such notification emails. This is simply a place where, upon fixing the Equipment TC Contract, you can set up the contractually mandated reminders, and then, as each one is sent, track that it has been sent by selecting the corresponding check box.

Performance Tab

On the Performance tab, you can enter speed and consumption information from the equipment owner to verify its performance.

Off-Hire and Delays

In the equipment hire contract, you can also include Off-Hire or Delays should the equipment require repairs. To do this, you will need to go to the Summary section in the right hand side. Expand Voyages in order to choose the voyage where Off-Hire occurred. 

Click Equipment from the top Menu. 

This will open the Activity Log screen where you can select Delays and then add the Off-Hire.