Contracts and Payments

From trade confirmation to final invoice, without the rework

Contracts, fulfillment, pricing, and invoicing in one place, for traders and yards alike. Fill a contract from your own yards, from brokered POs, or both.

100%of changes and approvals recorded

1 contractbehind every invoice

Zeroretyping from trade confirmation to final invoice

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What ReSpark changes about contracts and payments

The old way creates work. ReSpark replaces it.

Without ReSpark

Contract terms retyped from the trade confirmation

Provisional and final invoices built by hand

Pricing formulas kept in spreadsheets

No trail when a term changes

No clear view of how much of a contract is filled, or where the material is coming from

With ReSpark

AI turns the trade confirmation into a draft contract

Invoices created from the contract and the actual weights

Index, quotational period, and multi-metal pricing calculated in the system

Every change and approval recorded

Fulfillment tracked on every contract, from your yards and from brokered POs

Key Capabilities

Everything between the handshake and the payment.

A contract your whole desk works from.
- Trade confirmations turned into draft contracts by AI
- Incoterms, shipment terms, and payment terms on the contract
- Purchase and sales contracts linked to each other
See how every contract gets filled, whether you run yards, trade, or both.
- Fill a sales contract from your own yards, from brokered POs, or a mix of both
- Yard fulfillment plans by location and ship date
- Brokered POs linked to the sales contract they supply, and kept separate from yard inventory
- Shipped and remaining quantities tracked against the contract
Changes that carry through instead of getting lost.
- Amendments recorded against the original contract
- Changes flow to bookings, documents, and invoices
- Approvals required where you set them
Price the way the deal was struck.
- Fixed, index, and formula pricing
- Quotational period averaging
- Provisional prices that settle to final
Settle on what the assay says.
- Payable metals, treatment and refining charges, and deductions
- Load port and outturn assays on the contract
- Settlement recalculated when the final assay arrives
Invoices that match the contract every time.
- Provisional invoices at the agreed percentage
- Final invoices on actual weights and final prices
- The balance due or a credit memo created for the difference
Letters of credit followed from advice to payment.
- LC advice and amendments read in by AI
- Document requirements tracked against the shipment
- Bank presentations prepared from the documents on hand
Know what has been paid and what is still open.
- Deposits and advances recorded against the contract
- Credit ledgers by counterparty
- Balances applied to the final invoice
A full history of every contract.
- Approvals by role and by amount
- Every change recorded with who made it and when
- Invoices and payments posted to your accounting system

FAQ

Frequently asked questions.

Can one contract be filled from our yards and from brokered material?

Yes. A sales contract can be filled from your own yards, from brokered POs, or both. Each source is tracked against the contract, so you always know what has shipped and what is left.

Does this work if we trade but do not run yards?

Yes. Traders fill contracts with brokered POs, and yards fill them from inventory. The contract works the same way for both.

Can ReSpark handle provisional and final invoicing?

Yes. Send a provisional invoice at the agreed percentage, then a final invoice on actual weights and final prices. The balance due or a credit memo is created for the difference.

Does it support quotational period pricing?

Yes. Trade prices contracts on an index, a formula, or an average over the quotational period.

How does multi-metal settlement work?

The contract holds the payable metals, charges, and deductions. Settlement is calculated from the assay, and recalculated when the final assay arrives.

How are letters of credit handled?

The AI reads the LC advice and any amendments. Trade tracks the document requirements against the shipment and prepares the presentation for the bank.

Do invoices post to our accounting system?

Yes. Invoices and payments post to the accounting system you already use, including SAP, Microsoft Dynamics 365, Oracle NetSuite, Sage Intacct, and QuickBooks.

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