ESR 'Estimated Silo Return': GrainCorp’s estimated value per metric tonnes for a specified grade of wheat, barley, canola, sorghum or chickpeas at the specified upcountry receival depot less all relevant fees and deductions. This provides participants with an estimated return at their local depot.
Final Pool Return: the FOB price per metric tonne received by GrainCorp on the disposal of the all the grain in the Pool less any Expenses and Levies, to be paid by GrainCorp or its assignee to the Seller for the Grain, adjusted by the Adjustment Factor.
Harvest Advance Payment: one of GrainCorp Pools payment options available to participants. By choosing the Harvest Advance option participants are extended an initial advance following the transfer of their grain. Additional payments are paid later in the year until 100% of the EPR is paid on finalisation of the pool. The Harvest Advance payment usually has 100% of the costs deducted upfront.
Distribution Payment: another payment option available to participants. The distribution payment option spreads payments across the entire year with the first payment not usually made until the harvest delivery window has closed.
Deferred Payment: this payment option allows participants to defer their first payments to the next financial year with subsequent payments made until 100% of the EPR is paid with the final payment.
First Payment Price: GrainCorp’s estimate of the Final Pool Return as stated on the Remittance Advice under 'First Payment Price'.
Finalisation: the closure and distribution of remaining equity in the pool to participants
Guaranteed Minimum Price Pool: the published minimum return applicable to any pool which is specifically advertised as having a Guaranteed Minimum Price. To avoid doubt a Guaranteed Minimum Price Pool is separate from any underwriting products offered in conjunction with GrainCorp Pools.
Guaranteed Minimum Price: applies to Guaranteed Minimum Price Pool only and means the published return a participant can expect to receive from participation in the said GrainCorp Pool.
Remittance Advice: the document GrainCorp or its assignee provides to the Seller after delivery of the Grain, confirming the payment. Also referred to as Recipient Created Tax Invoice (RCTI)
Underwriting Fee: the non refundable fee charged by GrainCorp and applicable to the Harvest Advance Payment option. It is paid by the participant to guarantee them that the Final Pool Return will not be less than the initial advance to the participant.