Thursday, 28 November 2019
Growers wishing to receive Accelerated Advances for the 2019 Season are reminded nominations for this payment option close within QSL Direct at midnight this Saturday 30 November 2019.
Those QSL growers not on the QSL Direct system can nominate via their miller up until the close of business tomorrow, Friday 29 November 2019.
QSL’s Accelerated Advances option is designed to maximise the amount of Advances paid to participating growers prior to the end of the year, with its Advances rate rising to 90% each December. The Advances rate then remains at 90% for eligible tonnage until the QSL Standard Advances rate also reaches 90%, usually in April or May the following year. From this time the Accelerated Advances rate aligns with the QSL Standard Advances rate for the remainder of each season.
The QSL Accelerated Advances payment option is only available for:
- Tonnage nominated to the QSL Guaranteed Floor Pool;
- Completed pricing in the Target Price Contract;
- Completed pricing in the Individual Futures Contract; and/or
- Completed novated pricing (Mackay Sugar growers)
Growers who choose to receive Accelerated Advances have this payment option applied to all qualifying tonnage they may have that season in any of the pricing products outlined above. It is important to note that in order for tonnage in the Target Price Contract and Individual Futures Contract to be eligible for this payment option, the entire nomination in that particular pricing product for the season in question must be filled by 30 November prior to the December payment for that season.
NOMINATION DATE AND PROCESS
To nominate to receive Accelerated Advances, just follow these simple steps:
- Log onto your QSL Direct account and select the ABN in question;
- Select the 2019 Season and click on the Season Preferences tab;
- Under the ‘Advances & Cashflow’ section, select ACC as the Advances Option; and
- Click on the ‘Confirm' and then 'Submit’ buttons to finalise your selection.
Growers who have previously nominated to receive Accelerated Advances for the 2019 Season are advised to check their payment preferences (as outlined above) prior to nominations closing to ensure they have successfully submitted their request.
Remember, only Pricing Managers can nominate Accelerated Advances for the ABN in question.
For further information regarding QSL’s Accelerated Advances payment option, please read the Pricing Pool Terms of the eligible pricing products (available by clicking here), or contact your local QSL representative.