What is the Difference Between Spot and Contract Orders?

cieTrade.net distinguishes between two types of  Sales Orders and Purchase Orders: Spot, or one-time, orders and Contracts. 

When creating a new Sales or Purchase order, the Order-Type drop-down menu allows you to categorize the order as a Spot order or a Contract. 

• A Spot order is a single stand-alone agreement often representing a single trade or a set number of containers. 
• A Contract, is an ongoing agreement to buy or sell a specific product or products wherein only the price changes from month to month and can be derived from an agreed to formula that is based on a national publication index, such as Pulp & Paper Week.

Sales and Purchase Contracts can be rolled from month to month using the Contract Roll Forward tool.

If you have additional questions, please contact the Support Team via email to  support@cietrade.net.