Pricing Compliance Flashcards
Every BL must meet the following criteria for Pricing Compliance.
All rates entered in TMS, A valid rate reference number, and Manifested rates that mirror TMS
What does TMS stand for?
Transportation Management System
What is the pricing compliance fine?
$15,000 per container $60,000 per BL
What date is the rate based on
The date the last container ingates
How often are MFTC results are provided by Geneva?
Monthly with a months delay
What does service contract # look like?
Ex: 22-004WW
22=year negotiated
004=random number
WW=scope of contract (location)
Usually good for 1 year
4 types of non-contract rate reference
*General tariff: T + 14 digits
*Spot quotation: Q + 14 digits
*Rate agreement: R + 14 digits
*Tier level rate agreement: R + 14 digits (mult cust with exact same rate reg in one file)
What is general tariff
Rate as per GVA guideline for all port pairs w/in trade.
Inserted in TMS by POL agents
No inlands accepted
What is a rate agreement?
Special rates for specific customer w/ medium long term validity
Can be extended and amended
What is MFTC?
Manifest control tool: enforces TMS compliance, report pending B/L, tells if rates match
Results on MFTC
*green (ok): rates match
*Red (KO): don’t match
*Orange: no tariff found
How does Pricing Compliance meet KPI?
Clear quotation structure
Centralized, accurate data entry
TMS rate retrieval
Compliantant manifest
What are the 5 components of pricing compliance?
Rate retrieval and auditing
Vessel precheck
MFTC
Rate correction request
GVA report auditing
Rate retrieval (pricing compliance)
Doc and dtx teams send info to service center & they apply rates to all exports
Everyday send rating report with MFTC results
Vessel precheck (pricing compliance)
Checks MFTC report and corrects while BL is locked, make note why not corrected
