Washout agreements can be settled financially in Agiblocks. The following prerequisites must be met:
| ✓ | The Counterparties in the purchase and sales contracts must be same. |
| ✓ | Both purchase and sales contracts should have the same Commodity and Position in order to be able to be reserved. |
| ✓ | Both purchase and sales contracts should have the same settlement currency, otherwise their cost items won’t show up in the invoice cost items filter section. |
The key steps of performing a washout in Agiblocks are as follows:
| 1. | If needed, use the Back to Back button on a Contract form to create a matching Sales/Purchase contract. |
| 2. | On the Reservations screen, Reserve the purchase and sales contract to be used in the washout agreement. |
| 3. | Create a delivery without transport (via selecting the New button on the Deliveries screen). |
Note: You need to select the reservation first so that it is outlined in green. Then select the Delivery without transport button. If you do not select the reservation first, selecting the Delivery without transport button will not do anything.
| 4. | Execute the delivery. |
| 5. | Create a commercial invoice including both purchase and sales cost items and any other relevant cost items. |
