How to Close Out a Contract or Order

Introduction

The AgriChain platform is capable of closing out a Contract or Order that is in the Status 'In Progress' quickly. This is done using the 'Close Out Contract/Order' shortcut feature, which is handy as the Contract or Order does not require amendment. 

It is most applicable in scenarios where some deliveries against the Contract or Order have concluded and the remaining tonnage will no longer be carried out.

Closing out a Contract

Method 1 – From the contract list view:

1. Log in to AgriChain using your credentials.
2. Navigate to the Contracts module from the left-hand side menu.
   
   
   
3. Use the filters or search bar to locate the Contract you want to close out.
4. Click on the 3-dot menu next to the contract you want to close.
5. Select the “Close Out Contract” option from the dropdown.
   
   
   
6. A pop-up will appear displaying the delivered tonnage and remaining tonnage.
   
   
   
7. Click on “Proceed” to continue.
8. Enter the reason for closing out the contract (e.g., no more deliveries expected).
   
   
   
9. Click “Submit” to confirm.
10. You will be prompted to notify counterparties by email.
    
    1. Select the relevant parties and click “Send Now”, or choose “I’ll Do It Later” if no email is needed.
       
       
       
11. The contract will now be marked as Closed Out.

Method 2 – From within the contract view:

1. Log in to AgriChain using your credentials.
2. Navigate to the Contracts module from the left-hand side menu.
3. Use the filters or search bar to locate the Contract you want to close out.
   
   
   
   
4. Click into the contract to open it.
5. Click on the 3-dot menu at the top-right corner of the contract.
   
   
6. Select “Close Out Contract”.
7. A pop-up will appear displaying the delivered tonnage and remaining tonnage.
   
   
8. Click on “Proceed” to continue.
9. Enter the reason for closing out the contract (e.g., no more deliveries expected).
   
   
10. Click “Submit” to confirm.
11. You will be prompted to notify counterparties by email
    Select the relevant parties and click “Send Now”, or choose “I’ll Do It Later” if no email is needed.
    
    
    
12. The contract will now be marked as Closed Out.

Closing out a Order

Method 1 – From the order list view:

1. Log in to AgriChain using your credentials.
2. Navigate to the Orders module from the left-hand side menu.
3. Use the filters or search bar to locate the Order you want to close out.
   
   
4. Click on the 3-dot menu next to the order you want to close.
5. Select the “Close Out Order” option from the dropdown.
6. A pop-up will appear showing that the remaining tonnage will be reduced to match the delivered tonnage.
7. Click on “OK” to proceed.
   
   
8. Enter the reason for closing out the order (e.g., deliveries completed).
   
   
9. Click on “Submit” to confirm.
10. You will be prompted to notify counterparties by email
    Select the relevant parties and click “Send Now”, or choose “I’ll Do It Later” if no email is needed.
    
    
11. The order will now be marked as Closed Out.

Method 2 – From within the order view:

1. Log in to AgriChain using your credentials.
2. Navigate to the Orders module from the left-hand side menu.
   
   
   
3. Use the filters or search bar to locate the Order you want to close out.
4. Click into the order to open it.
5. Click on the 3-dot menu at the top-right corner of the order.
   
   
6. Select “Close Out Order”.
7. A pop-up will appear showing that the remaining tonnage will be reduced to match the delivered tonnage.
8. Click on “OK” to proceed.
   
   
9. Enter the reason for closing out the order (e.g., deliveries completed).
   
   
10. Click on “Submit” to confirm.
11. You will be prompted to notify counterparties by email
    Select the relevant parties and click “Send Now”, or choose “I’ll Do It Later” if no email is needed.
    
    
12. The order will now be marked as Closed Out.

FAQ's

I am not able to close out a Contract or Order. What is potentially causing it?

You will not be able to close out a Contract or Order if there are Movements with the Status 'Planned/Confirmed/In Progress' against it. As such, you will need to add inload data against 'In Progress' movements or Void any 'Planned/Confirmed' movements, before closing out the Contract or Order.

You will also not be able to close out a Contract or Order if there are no recorded Movements (loads) against it. That is, no delivered tonnages against the Contract or Order have been recorded.

How can I close out a contract when the actual delivery is less than the planned amount?

You can use the "Close Out" functionality to automatically close out all the remaining tonnage in both the contract and the order in one go. This feature is helpful when the actual delivery is less than the planned amount, and the movement has been closed and invoiced, but the contract status remains 'In Progress.'

How do I close out an order when the actual movement tonnage is slightly below the required threshold for auto-completion?

If the actual movement tonnage is below the required threshold due to tolerance calculations, use the "Close Out Order" option in the system. This will manually mark the order as completed and remove it from the "In Progress" list.

Why are some of my orders not auto-completing even though they are within tolerance?

This can occur when multiple orders are tied to contracts with high tonnage values. The tolerance is proportionally distributed across all orders under the same contract, resulting in an effective tolerance per order that is calculated as a weighted average. If the actual movement tonnage falls slightly short of this calculated threshold, the order remains "In Progress."