Word Glossary

  • Average Hire Balance - Average hire balance is the amount of equipment usage on an account on average for a particular invoice period (week/month). Average Hire Balance = Equipment Hire Days/Days in the (invoice) period.
  • CHEP - Commonwealth Handling Equipment Pool. 
  • CHEPmate - CHEP system that uses database technology that sits locally on a server or client that CHEP customers use to manage transactions and notify CHEP of transactions through importing and exporting files.
  • Closing Balance - The balance of equipment on your invoice at the close of invoice period.
  • CMD - CHEP Movement Docket - paper docket, alternative to using CHEPMate and Portfolio Plus.
  • Compensation - When equipment is lost a customer has a financial liability to compensate the amount of equipment lost to CHEP through what is known as a compensation payment.
  • Corrections - Dockets that require a change to be made to that transaction.ie, a quantity, date or trading partner etc.
  • Cycle Time - A concept that looks at the inventory churns of equipment. Calculated by movements on (issues + transfers)/ Average Hire Balance.
  • Dehire - Customer returns CHEP hire equipment to a Service Centre or transfers CHEP hire equipment on to a trading partner.
  • Docket - A record of the movement transaction.
  • Effective Date - Date of which financial liability has commenced on the customer's account.
  • Equipment Hire Days - Calculation of equipment hire days = Previous Closing Balance x Invoice period.
  • Exchange - Where equipment is sent from one CHEP customer to another CHEP customer, and the financial liability and hire charges remain with the sending party as CHEP is not notified of the transaction and the transaction will not show up on the invoice.
  • Hire Rate - Customer incurred cost of hiring CHEP equipment on a daily basis.
  • IOU - When a customer loans equipment to their Trading Partner and the movement is not known to CHEP and will not show up on the invoice.
  • Issue - The receipt of CHEP equipment to a customer from a Service Centre.
  • myCHEP - A smarter, simpler and faster customer portal available to you 24/7 on desktop and mobile devices, myCHEP is our new portal that leverages the latest technology to enable you to quickly and easily schedule orders and collections online, and make transfers and corrections in fewer clicks. To login to myCHEP, visit https://my.chep.com. If you do not have access, speak with your account manager or call Customer Service.
  • Portfolio Plus - Online CHEP system that customers use to manage transactions and notify CHEP of transactions.
  • Trading Partner - When customers trade equipment/goods with one another they are said to be trading partners.
  • Trading Rule - A rule that is agreed amongst trading partners around the movement day of equipment and when the actual financial liability is transferred.
  • Transfer On - When CHEP equipment is received from another CHEP customer they are said to have transferred 'ON' the equipment and the liability and charges are the now the responsibility of the receiving party.
  • Transfer Off - When CHEP equipment is dispatched to another CHEP customer they are said to have transferred 'OFF" the equipment.