Weight Only Booking Agreement Quiz

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Questions and Answers

What happens if the bill for freight charges is not paid within 10 days of presentation?

  • The Railway is obligated to offer a discount on the freight charges.
  • The security deposit is forfeited.
  • The freight charges become 'To pay' traffic, and a surcharge is applied. (correct)
  • The 'Weight only' system is automatically withdrawn.

Who is responsible for the payment of freight charges?

  • The person or entity booking traffic under the 'Weight only' system (correct)
  • The President of India
  • The Financial Adviser & Chief Accounts Officer
  • The accredited representative of the person or entity booking traffic.

What type of payment method is accepted for freight charges?

  • Debit card payment.
  • Bank transfer
  • Cash only
  • Crossed cheques drawn on a bank approved by the Railway (correct)

What happens if a crossed cheque provided for payment is dishonored?

<p>The 'Weight only' system is automatically withdrawn. (D)</p> Signup and view all the answers

What is the purpose of the security deposit mentioned in the agreement?

<p>To ensure payment of freight charges and compliance with the agreement. (C)</p> Signup and view all the answers

When are provisional bills issued for the entire transactions of March every year?

<p>At the beginning of March. (B)</p> Signup and view all the answers

What is the primary purpose of the security deposit?

<p>To ensure the timely payment of freight charges under the 'Weight Only' system (A)</p> Signup and view all the answers

What is the maximum duration for which the booking privilege can be granted under the 'Weight only' system?

<p>Not specified in the agreement. (A)</p> Signup and view all the answers

Under what circumstances may additional security be required?

<p>If the freight transaction exceeds a specific value for a defined period. (A)</p> Signup and view all the answers

What happens if the security deposit or additional security isn't deposited within the specified time?

<p>The Railway may withdraw the 'Weight Only' system privilege. (B)</p> Signup and view all the answers

What happens to the amount paid for provisional bills in March?

<p>It is adjusted against the final bills for actual freight charges due. (B)</p> Signup and view all the answers

Which of the following actions can the Railway take if the shipper owes money?

<p>All of the above. (D)</p> Signup and view all the answers

What is the frequency of issuance of periodical bills for transactions?

<p>Every 5 days (A)</p> Signup and view all the answers

How are 'To pay' traffic and 'Weight only' traffic different?

<p>The freight charges for 'To pay' traffic are higher. (C)</p> Signup and view all the answers

What happens to the security deposit if the 'Weight Only' system privilege is withdrawn?

<p>The security deposit is used to cover any outstanding freight charges. (D)</p> Signup and view all the answers

What is the minimum notice period required to withdraw the 'Weight Only' system privilege?

<p>One month (B)</p> Signup and view all the answers

Who determines the amount of the additional security deposit?

<p>The Railway (A)</p> Signup and view all the answers

What is the role of the rules in "the Tariff"?

<p>To establish the freight rates for different types of goods and routes. (B)</p> Signup and view all the answers

Which of the following statements is TRUE regarding the 'Weight Only' system?

<p>It simplifies the freight payment process by charging based on weight alone. (D)</p> Signup and view all the answers

What is the purpose of including blanks in the text, such as "_______"?

<p>To allow for customization of the terms and conditions by the Railway. (A)</p> Signup and view all the answers

What consequence does a shipper face if the freight bill is unpaid beyond the grace period?

<p>A surcharge will be applied, treating traffic as 'To pay'. (B)</p> Signup and view all the answers

In what scenario will the Railway withdraw the 'Weight only' system privilege?

<p>If bills are not paid on presentation, at the Railway's discretion. (C)</p> Signup and view all the answers

After what period are periodical bills issued for transactions?

<p>Every five days. (C)</p> Signup and view all the answers

What happens to provisional bills based on the previous three months transactions?

<p>They must be paid in full by 31st March each year. (D)</p> Signup and view all the answers

What should a shipper do if their crossed cheque is dishonored?

<p>Understand it counts as non-payment per the agreement. (B)</p> Signup and view all the answers

What is the limitation of claims regarding errors in the billed amount?

<p>Claims can be adjusted in the final bills during the next month. (A)</p> Signup and view all the answers

What is the role of the Financial Adviser & Chief Accounts Officer in the payment process?

<p>To receive payments through approved crossed cheques. (A)</p> Signup and view all the answers

What happens if a shipper's bill remains unpaid after the presentation period?

<p>Additional security will be required to continue using wagons. (D)</p> Signup and view all the answers

How is a security deposit treated in relation to the 'Weight only' system?

<p>It is utilized to cover outstanding payments only. (D)</p> Signup and view all the answers

Which of the following is NOT a condition for using the 'Weight only' system?

<p>Regular reviews of freight rates. (D)</p> Signup and view all the answers

What is the primary consequence if the security deposit is not replenished within the specified time?

<p>The privilege may be withdrawn without further notice. (D)</p> Signup and view all the answers

Which of the following describes the nature of the additional security required?

<p>It is dependent on projected transactions over a set period. (D)</p> Signup and view all the answers

How can the Railway realize amounts payable without reducing their other rights?

<p>By accessing the security deposit at their discretion. (C)</p> Signup and view all the answers

What must a user acknowledge regarding the rules of the Railway?

<p>They may amend rules without notice at any time. (C)</p> Signup and view all the answers

What does the term 'Weight only' system imply in the context of this agreement?

<p>Freight charges are calculated solely based on the weight of goods. (D)</p> Signup and view all the answers

What is required for a privilege under the 'Weight only' system to be valid?

<p>The user must maintain an adequate security deposit at all times. (C)</p> Signup and view all the answers

What is the notice period required by the Railway to withdraw the privilege?

<p>One month. (D)</p> Signup and view all the answers

Which of the following is not a provision detailed in the agreement?

<p>Interest on cash deposits will be paid. (B)</p> Signup and view all the answers

What will happen if additional security is not deposited within the time fixed by the Railway?

<p>The privilege may be withdrawn without notice. (C)</p> Signup and view all the answers

What is one of the rights reserved by the Railway regarding the security deposit?

<p>To realize amounts payable from the deposit as needed. (D)</p> Signup and view all the answers

What is the minimum notice period the Railway must provide before withdrawing the 'Weight only' system privilege?

<p>One month (C)</p> Signup and view all the answers

What is the consequence of exceeding the specified transaction limit in a 5-day period?

<p>The user is required to provide additional security. (B)</p> Signup and view all the answers

What happens if the user fails to deposit the required security deposit or additional security within the specified timeframe?

<p>The Railway may withdraw the 'Weight only' system privilege. (B)</p> Signup and view all the answers

What is the specific requirement for a user to be eligible for the 'Weight only' system?

<p>A minimum transaction amount should be done and the user must agree to abide by all Railway rules. (A)</p> Signup and view all the answers

Who has the authority to determine the amount of additional security required based on the user's exceeding transactions?

<p>The Railway. (A)</p> Signup and view all the answers

What is the specific role of the rules laid down in the 'Tariff' regarding freight under the 'Weight only' system?

<p>They define the specific rates applicable to different types of goods. (D)</p> Signup and view all the answers

How can the Railway recover amounts owed by a user without limiting its other rights?

<p>By deducting the amount from the security deposit. (D)</p> Signup and view all the answers

What is the primary purpose of the security deposit mentioned in the agreement?

<p>To ensure regular payment of freight charges and cover any potential losses incurred by the Railway. (C)</p> Signup and view all the answers

What is the Railway's right to do with the security deposit when the user owes money?

<p>The Railway can use the security deposit to cover unpaid freight charges without limiting their other rights. (A)</p> Signup and view all the answers

What must the payments for periodical bills be based on?

<p>The average of previous three months transactions (D)</p> Signup and view all the answers

What is a consequence of not paying the freight bill within 10 days?

<p>Traffic will be treated as 'To pay' traffic (A)</p> Signup and view all the answers

What happens if a crossed cheque for payment is dishonored?

<p>It is treated as non-payment (D)</p> Signup and view all the answers

For what duration can the booking privilege under the 'Weight only' system be granted?

<p>Specific period set by Railway (C)</p> Signup and view all the answers

Under what circumstances can the Railway suspend the supply of wagons?

<p>If bills are not paid on presentation (A)</p> Signup and view all the answers

What kind of information might be filled in the blanks provided in the agreement?

<p>Dates and amounts (A)</p> Signup and view all the answers

What is required from the shipper when using the 'Weight only' system?

<p>To acknowledge the rules of the Railway (D)</p> Signup and view all the answers

What is the billing structure for provisions made during March each year?

<p>Provisional bills based on previous transactions (D)</p> Signup and view all the answers

What happens if bills remain unpaid after the presentation period?

<p>Charges begin accruing immediately (D)</p> Signup and view all the answers

What form of payment is acceptable under the agreement?

<p>Crossed cheques (C)</p> Signup and view all the answers

Flashcards

Weight Only System

A method of traffic booking based on weight measurements.

Privilege of Booking

A special allowance granted by the Railway to book traffic under specific conditions.

Periodical Bills

Invoices issued regularly (every 5 days) for transactions.

Provisional Bills

Estimated bills based on previous transactions to manage cash flow.

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Surcharge

An additional fee applied if payment isn't made on time.

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Security Deposit

An upfront payment to secure the right to use the booking privilege.

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Bills Payment Policy

Bills must be paid in full upon presentation, regardless of delivery.

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Withdrawal of Privilege

The Railway may revoke the booking privilege without prior notice for non-compliance.

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Crossed Cheques

Cheques with two parallel lines that restrict payment to bank transfers.

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To Pay Traffic

Traffic that is billed to the recipient and subject to surcharges if unpaid.

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Additional Security

Extra deposit required if freight transactions exceed a certain limit.

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Realisation of Amount

The Railway can deduct amounts from the security deposit if needed.

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Replenishment Requirement

Responsibility to restore the security deposit if it gets reduced.

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Compliance with Rules

Agreement to follow all rules and tariffs set by the Railway.

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Notice Period

Time allowed before cancelling the privilege, usually one month.

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Payment of Freight

The process of paying the Railway for transporting goods.

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Tariff Changes

Modifications to pricing rules that can happen over time.

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Wagon Delivery Liability

Responsibility for payment exists even if wagons are not picked up.

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5-Day Bill Cycle

Invoices issued every five days for transactions under this agreement.

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Adjustment of Overcharges

Detected billing errors can be corrected in future bills.

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Annual Provisional Bills

Estimated charges issued every March based on prior months.

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Non-Payment Consequences

Failure to pay invoices can lead to suspension of services.

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Surcharge Rates

Extra fees applied for late payment beyond 10 days.

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Crossed Cheques Requirement

Payments must be made via crossed cheques to avoid dishonor.

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Security Deposit Importance

A monetary guarantee required before booking privileges are granted.

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Bills Presentation Rule

Bills must be paid in full upon presentation, regardless of delivery status.

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Privilege Withdrawal Conditions

Railway can withdraw booking privileges without notice for non-compliance.

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Freight Transactions Limit

The maximum amount of transactions allowed in 5 days before requiring additional security.

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Additional Security Requirement

Extra deposit needed if freight transactions exceed a specified limit.

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Withdrawal Conditions

Circumstances under which the Railway can revoke privileges without notice.

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Realisation Rights

The Railway's right to claim unpaid amounts from security deposits.

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Notice for Privilege Termination

A month’s notice is needed before privileges can be terminated.

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Security Deposit Policy

Upfront cash requirement to ensure booking privileges are maintained.

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Rule Compliance

An agreement to follow all Railway rules regarding transactions.

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Time Frame for Security Deposit

Time allowed by the Railway to deposit additional security if required.

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Withdrawal without Notice

The Railway can terminate privileges immediately in case of rule violations.

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Existing Rules Reference

Obligation to adhere to current rules and any future amendments issued by the Railway.

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Security Deposit Requirement

An upfront amount needed before booking privileges are granted.

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Notice for Termination

A month's notice must be given before privileges are revoked.

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Privileged Booking System

A special system allowing booking based on weight considerations.

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Security Deposit Policies

Rules governing the handling and requirements of security deposits.

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Conditions of Agreement

Terms that must be followed to maintain booking privileges.

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Bills Presentation

Invoices that must be paid in full upon being shown, regardless of delivery.

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10-Day Payment Rule

Payment must occur within 10 days after the bill's presentation to avoid surcharges.

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Surcharge Application

Extra charges applied for late payments beyond the grace period.

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Provisional Bill Timing

Estimated bills based on the average of the last three months, issued in March.

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Wagon Supply Suspension

The potential halt of wagon supplies due to non-payment of bills.

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Cheques Requirement

Payments must be made using crossed cheques approved by the Railway.

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Non-Payment Impact

Consequences faced when bills are not paid on presentation include service withdrawal.

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Security Deposit Purpose

An upfront payment needed to secure rights to traffic booking under the system.

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Study Notes

Specimen Agreement for Booking Traffic Under "Weight Only" System

  • Agreement between Railway and shipper (individual or company)
  • Conditions for "Weight Only" booking system
  • Periodical bills issued every 5 days for transactions
  • Bills due on presentation, whether goods delivered or not
  • Errors in freight charges will be adjusted
  • Provisional bills for March transactions, based on previous 3 months' average, paid before March 31st
  • If bills unpaid, wagon supplies suspended, "weight only" system potentially withdrawn
  • Surcharge for late payments, payable if "weight only" freight isn't paid within 10 days
  • Payment via crossed cheques payable to Financial Advisor & Chief Accounts Officer; dishonoured cheques may lead to non-payment
  • Security deposit required, in forms prescribed by Railway, no interest on deposit
  • Increased transactions may require additional security; if not deposited on time, privilege withdrawn
  • Railway can recover amounts from security deposit if not replenished
  • Agreement to abide by all rules and tariffs, including those that are amended or modified
  • "Weight Only" system can be amended; existing and future rules apply
  • Privilege may be withdrawn with a month's notice

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