Electronic Signature Setup
Navigate to the Purchases tab at Grain / Setup / Preferences and select Electronic Signatures. Check Locations that can electronically sign the Priced Later and Basis Fixed contracts.
Contract Document
- Advances are displayed on the front page.
- The Source Document Ref #, Contract Quantity, and dates grain was delivered includes any Scale Tickets that were migrated to a new contract.
- On the second page Schedule of Basis, history is recorded on the origin IL Priced Later contract when a Basis Price or Futures Month is changed.
- Editing a Purchase Contract with Amendments turned off disables the ability to change the Basis Price and Futures Month.
- Editing a Purchase Contract with Amendments turned on allows an Amendment to be added to change the Basis Price and Futures Month.
- Adding/Changing the Basis Price or Futures Month when migrating an IL Priced Later contract:
- On the Migration window, the Basis Price, Futures Price, and Futures Month are available. If the origin contract was an IL Priced Later contract, the migration cannot continue until the Basis Price and Futures Month are populated when migrating to Priced or Basis Fixed.
Note: This will be checked again upon saving the Purchase Contract.
- On the Migration window, the Basis Price, Futures Price, and Futures Month are available. If the origin contract was an IL Priced Later contract, the migration cannot continue until the Basis Price and Futures Month are populated when migrating to Priced or Basis Fixed.
- All information for this section is stored in grpurconbasisschedule.
- The Buyer and Seller Signature will come from an Amendment or from the new contract being created during the migration.
- On the second page Schedule of Settlements, a record is made for the origin IL Priced Later contract when a Cash Price is established. The Grower receives a check/ACH or units are reduced on the contract. When a Cash Price is established, it could also be a Priced Purchase Contract, Deferred Payment Contract, or Installment Sale Contract.
- On the Purchase Contract, the origin contract is stored. This is used to track back to the origin IL Priced Later contract.
Reports
The following reports can be found at Grain / Grain Reports / Purchase Contracts.
- IL Priced Later Contract Signature Method – This report shows if the contract has been signed and if the contract was signed electronically or by paper.
- Export IL Priced Later Audit File – This export is information requested by the IL auditor when auditing a grain facility for IL Priced Later contracts. This will create a txt file the auditor can use to review the information.
