Avoid Costly Mistakes With Contracts & Pricing

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Contracts and Pricing

Claws contracts handle pricing and payment information for purchase, sale, buy-sell and transportation transactions. Each contract is tied to a counterparty.

A Claws contract contains general information on the contract counterparty such as name and address, effective dates, contract terms, plus payment and any special instructions.

Contracts also include one or more deals. Each deal is comprised of a pricing list and the trading points to which the pricing is applied. Trading points are the physical or paper locations where your company does business.

A deal can include multiple price components describing the deal pricing. Deal pricing structures can include any of the following types of pricing:

  • Daily or monthly posted prices
  • Differential pricing for each deal to adjust the deal posted price
  • Per unit pricing for additional volume, mileage and hourly charges
  • Pricing based on a mileage range table
  • Gravity based pricing tables for gravity deductions
  • BS&W based pricing tables for BS&W deductions
  • Composite pricing made up of multiple price components combined into a single price

All price components can be assigned a price multiplier to produce pricing such as 97% of LLS or 103% of Plains WTI + Platts P+ – WTI/WTS Differential.

All price components are assigned a user-defined P&L Reporting Class which specifies the component’s position within a Lease Profit and Loss Statement and also how the component pricing is reported to the general ledger.

A pricing component can be assigned to all trading points on the deal or applied to a specific trading point only.

All pricing is date sensitive, covering a specific time period.

Users can add dated notes with attachments to any contract. Notes can be reviewed on-screen or printed at any time.

The system provides a wide range of contract and pricing reports.