Why are there two Payment Terms in a cargo contract?

Each Cargo contract has two separate Payment Terms. These two payment terms correspond to the Laytime Calculation and Freight Invoice of this cargo.

Payment Terms in the Freight Invoice

Invoice % specifies what should be the default invoicing percentage for the given cargo when a new freight invoice is created. In the screenshot above, the Invoice % is 100. If we do not specify a number or enter 0 then IMOS will use the value of CFGFrtinvPercent for Invoice %.

IMOS will apply the payment term DAID, highlighted in red, to the first freight invoice with the Balance % set to 0, highlighted in purple. Since there is no split, the Balance % is not editable.

If we use a split, for example, 80% - 20%, then IMOS will use DAID payment term in the first freight invoice and DCD10 in the second freight invoice.

Note: There are exceptions for Re-issue type of freight invoice and freight invoice where B/L Qty was not set in the voyage cargo.

Also, for the above to work, the "Bill By“ field needs to be set as "Invoice Qty“.