Word Glossary

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Average Hire Balance - The average quantity of CHEP equipment that was on hire throughout an invoice period.

Closing Balance - The balance of equipment on hire at the close of the invoice period.

CHEP Movement Docket (CMD) - A paper docket used as an alternative to using online systems.

Compensation - When CHEP equipment is lost a customer has a financial liability to compensate CHEP for the quantity of CHEP equipment lost. Until the compensation liability is paid for the lost CHEP equipment, daily hire charges are required to be paid for the CHEP equipment.

Corrections - Amending a transfer that was processed with incorrect details e.g. quantity, date, trading partner etc.

Correction Requiring Authorisation - CHEP requires written authorisation from the receiving party to process a correction where:

  1. The invoice date of the transfer is within 60 days of the date of invoice.
  2. A movement has already been corrected and is no more than 60 days from the date of invoice.
  3. The sender is requesting the correction onto a receiver declares account and CHEP’s approval has been provided.

myCHEP provides an electronic tool for trading partners to request a correction that requires authorisation. This function can be used to process a correction where:

  • A movement has already been corrected and is no more than 60 days from the date of invoice.
  • The sender is requesting the correction onto a receiver declares account and CHEP’s approval has been provided.

Cycle Time - Indicates the length of time equipment is on hire. This should align to stock turnover.

Date Of Dispatch - Date on which equipment is physically dispatched.

Delay Days - A commercial agreement between both trading partners, where the sender continues to pay hire for an agreed number of hire days after the equipment has been delivered to the receiver.

Docket - A record that captures the movement transaction.

Effective Date - Date at which the customer’s responsibility and financial liability for the CHEP equipment has commenced or ceased.

Exchange - Where a CHEP customer sends equipment to other parties and upon delivery they either swap pallets 1:1 or capture the delivery as an IOU. The responsibility and financial liability remains with the CHEP customer, as CHEP is neither notified of the transaction nor has any contractual arrangement with the other party, and the senders’ hire balance remains unchanged.

The exchange function in myCHEP allows customers to track movements to other locations which don’t use CHEP accounts, providing greater transparency of movements, supporting better asset management.

The exchange function in myCHEP makes it easier for customers to undertake the following:

  • Create and redeem movements.
  • View current outstanding exchange balances.
  • Review their overall exchange position through an easy to view dashboard.

IOU - When a CHEP customer loans equipment to their trading partner and the CHEP customer remains responsible and financially liable for the CHEP equipment.

Issue - CHEP equipment is dispatched to or collected by the customer from a CHEP service centre. CHEP equipment quantity is added to the customer’s account and charging commences from that day.

Missing Docket - The sender has delivered equipment to their trading partner but has not advised this movement to CHEP. The docket is missing from CHEP’s record and the sender continues to pay daily hire.

myCHEP - A smart, simple and fast customer portal available 24/7 on desktop and mobile devices. This is CHEP’s customer portal that leverages the latest technology to enable customers to quickly and easily schedule orders and collections online, as well as make transfers and corrections in fewer clicks.

Receiver Declares - Some trading partners have a trading rule in place called ‘receiver declares’. This means the sender’s transfer docket will only be processed off their account when the receiver advises this transfer to CHEP for processing.

Redeem - When equipment loaned (IOU) to a trading partner is physically returned. The sender captures this return reducing that party’s exchange balance. Note: This functionality is in myCHEP.

Reinstate - If a correction or reversal against your transfer docket is not correct, you will need written authority from your trading partner to reinstate the transfer.

Return - CHEP equipment is returned to a CHEP service centre. The quantity of CHEP equipment returned is removed from the customer’s account and the customer stops paying hire.

Reversal - When a processed transfer is reversed, it’s like the transfer never happened. The customer’s hire balance is adjusted so the transfer plus the reversal has the net impact of nil on their hire balance.

Standard Hire Rate - Means the daily hire rate for equipment as published on the CHEP customer portal, myCHEP, from time to time.

Standard Issue Rate - Means the rate for issues of equipment as published on the CHEP customer portal, myCHEP, from time to time.

Suspended Movement - The transfer you have declared to CHEP contains an error (incorrect or missing detail) and cannot be processed. Using myCHEP, you will need to edit and resubmit this transfer for processing.

Trading Partner - When customers transfer equipment with other parties that have a CHEP account, they are said to be trading partners.

Trading Rule - A rule that is agreed between trading partners around the movement day of equipment and when the actual financial liability is transferred.

Transfer In/Out - When CHEP equipment is sent from CHEP customer A to CHEP customer B, CHEP customer B are said to have transferred 'IN' the equipment and the liability and charges are the now the responsibility of CHEP customer B. Conversely, CHEP customer A is said to have transferred 'OUT’ the equipment.

Written Authority - If you correct or reverse an invoiced transfer after the 60 day window, you must obtain written authority from your trading partner; submit this to CHEP Customer Service for processing.

Disclaimer

This glossary is intended as a guide to assist CHEP customers in the share and reuse community. It does not replace the Terms of Hire or any other agreement customers have with CHEP. In the event of any inconsistency between this glossary and the Terms of Hire or any other agreement customers have with CHEP they will prevail over this glossary.

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Word Glossary | CHEP Australia