Estimated Pool Return (EPR): Means an estimate of the Pool Return in $AUD/MT excluding GST provided by GrainCorp Pools to Pool Participants. The EPR is quoted at Track or track equivalent level for East Coast and SA or FIS for WA and net of all costs, management fees, any other fees (including estimates of any costs and fees).
Estimated Silo Return (ESR): Means an Estimated Pool Return quoted at up country silo level. It shall be the EPR less the applicable freight and any other costs for the respective silo.
Final Pool Return: Means a final Pool Return in $AUD/MT excluding GST provided by GrainCorp Pools to Pool Participants.The Final Pool Return is also quoted at Track or track equivalent level for East Coast and SA or FIS for WA and net of all costs, management fees, any other fees (including estimates of any costs and fees).
Finalisation: the closure and distribution of remaining equity in the pool to participants.
Guaranteed Minimum Price: applies to PriceGuard Plus only and means the published return a participant can expect to receive from participation in PriceGuard Plus. This amount is guaranteed and the pool participant has no further debt or liability to GrainCorp Pools.
1. Harvest Advance Payment: one of GrainCorp Pools payment options available to participants. By choosing the Harvest Advance option participants are extended an initial advance following the transfer of their grain. Additional payments are paid later in the year until 100% of the EPR is paid on finalisation of the pool. The Harvest Advance payment usually has 100% of the costs deducted upfront.
2. Distribution Payment: another payment option available to participants. The distribution payment option spreads payments across the entire year.
3. Deferred Payment: this payment option allows participants to defer their first payment until July with the final payment made at finalisation.
Remittance Advice: the document GrainCorp or its assignee provides to the Seller after delivery of the Grain, confirming the payment. (also referred to as Recipient Created Tax Invoice (RCTI))
Underwriting: Means the guarantee by GrainCorp that a payment or loan made to a Pool Participant, if nominated as “Underwritten”, is non-recourse should the subsequent proceeds, of Final Pool Return from the Pool be less than the Underwritten amount. Consequently, the Pool Participant shall have no further debt or liability to GrainCorp Pools with respect of the Underwritten amount and that GrainCorp Pools guarantees the Final Pool Return paid to the Pool Participant will not be less than the Underwritten return.
Underwriting Fee: the non-refundable fee charged by GrainCorp and applicable to the Harvest Advance Payment option. It is paid by the participant to guarantee them that the Final Pool Return will not be less than the initial advance to the participant.