Last Published: 12/05/2006 09:40:40

TRAFXS Systems - Contract Management

Contract Management

TRAFXS Contract Management Solution

Five different types of contracts - Sale, Purchase, Exchange, Buy/Sell, and Rack-lifting agreements - are supported within TRAFXS.
All relevant information pertaining to a contract is retained, including effective period, products, locations, contract value, additional costs, secondary costs, differentials, and price formulas.
Contracts are automatically forwarded for review by credit and accounting before transactions may be processed against them.
Contract value is automatically re-calculated every evening based on current posted prices. Excessive variations, or those which surpass customer credit limits, are immediately reported to the credit department.

Additional Features

  • Formal contracts and worksheets, both of which may be printed at any time.
  • Support of both light-end and heavy-end products (including crude). Commodities may be arbitrarily grouped for reporting and statistical purposes.
  • Deliveries and receipts both retained on exchange and buy/sell agreements; effective period, locations, products, and prices may vary by direction.
  • Prices for contracted products may be specified as fixed values or formulas, which may be effective at all locations, or just a single location, at which a product is sold.
  • Rapid generation of contract amendments, including the ability to construct and/or evaluate an amendment while the original contract remains in effect.
  • Contract log, listing contracts numbers, value, products, and locations, using a flexible set of selection criteria.
  • Up to 26 standard or user-defined endorsements (notes) permitted in contract entry; these routinely appear at the bottom of printed contracts and worksheets.
  • Extended descriptions of several items, e.g. quality, inspection, and method of delivery, are referenced by user-defined 3-character mnemonic codes.
  • Comprehensive contract search and inquiry facilities, which have been made available throughout the TRAFXS system.