Eastern Australia Wheat - Tender Advice Example
The following table provides an explanation for an example tender advice notice. The tender advice is issued to the buyer or seller of the Eastern Australia Wheat once delivery is completed.
|Number of contracts||50||One contract = 20 tonnes (1,000 tonnes)|
|= Gross Price * Tonnage|
|10% of Value|
|S&H Company||GrainCorp||Name of Approved Bulk Handler|
|Shrinkage||0.7%||As per S&H Agreement*|
|As settled on ASX on day of tender|
|less Location Differential||
|GTA Location Differential*|
|Up Country Delivered||
|= ASX - GTA Location Differential|
|add Receival Fee||
|As per S&H Agreement**|
Up Country Price Free In Store
|= Up Country Delivered + Receival Fee|
|Gross Shrunk Price Free In Store||
|= Up Country FIS / 0.993|
* GTA Location Differentials updated annually, effective October 1. This is an example differential only from 2013/2014 and may not be representative of the prevailing rate.
** S&H Companies review fees and shrink annually. This is an example only from 2013/2014 and may differ from the prevailing rate.