Premiums in Cents and in Their Own Unit
With this functionality enabled, Agiblocks users can specify the premiums of to be fixed contracts in cents and in their own quantity units:
| • | When pricing is in USD then the premium can be entered in US cents |
| • | And when pricing is per MT then premium can be e.g. per LBS or per 50KG |
For the price calculation the premium is converted back to the pricing coin and units, but Agiblocks calculates with the value exactly as entered by you. This keeps the numbers precise.
Configuration
By default, the feature to use cents for the premium is switched off in Master data. This may be switched on by editing Currencies Master data.
| • | Switch on usage of cents for each currency separately by ticking the “Allow Cents” check box. |
| • | Enter the display text used to represent cents for a currency (e.g. USDcts for US cents). |
Premium in Cents Usage in a Contract
Once enabled, the Premium in Cents fields are then visible on a contract form where the premium is entered.
On the risk tab there are 2 sets of currency/unit pairs:
| • | One for pricing |
| • | One for the premium |
|
|
