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A counterparty is a company you trade with: a customer you sell to, a supplier you buy from, a futures broker, or a bank. Counterparties keeps one record for each, so their terms, contacts and open balances live in one place instead of in every contract.
Available when the Counterparties module is turned on for your workspace. Ask your workspace admin. With the module off, buyers and sellers are plain names typed on contracts and invoices.

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The counterparty list

Open Counterparties in the sidebar. The line at the top counts your counterparties and how many KYC re-checks are due. Tabs filter by role: All, Customers, Suppliers, Brokers and Banks, each with its count. KYC due shows only the counterparties whose KYC re-check date is today or earlier. Search by name or country.
The Counterparties list on the Suppliers tab with the role tabs, the KYC due filter and the + New counterparty button

The Suppliers tab for Veltana Commodities SA: Kanchana Siam Sugar Co., Ltd. with one open contract for 27 MT.

For brokers, Volume YTD shows their futures fills and open lots instead (when the Derivatives module is on). For banks, it shows the credit line and how much of it is used.

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Add a counterparty

Click + New counterparty and fill in what you know. Only the name and role are needed to start. You can change any of it later with Edit on the counterparty’s page.
When you type a name that looks like an existing counterparty, Mercora points it out and asks whether to create it anyway, so you don’t end up with a duplicate.

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A counterparty’s page

The page header shows the name and role, with Statement, Edit, New contract (customers and suppliers) and the … menu. The tiles at the top depend on the role. For customers and suppliers:
  • AR Open (customer) or AP Open (supplier): the outstanding balance, how many invoices are open, and how much is current or due soon.
  • Overdue: the late amount, with the worst invoice’s days late.
  • Exposure: open AR or AP plus the contract value not yet invoiced. For example, Kanchana Siam Sugar’s exposure is the USD 14,256.00 purchase contract VCS-P-2026-0688 (27 MT at USD 528): before its invoice arrives, all of it counts as not yet invoiced.
For brokers and banks: Margin posted, TPA accounts and Credit line, from the accounts listed under Accounts. Below the tiles:
  • Open Invoices: every approved invoice with something outstanding, its due date, and how many days overdue. Click one to open it.
  • Trading Rules: payment terms, premium currency, release limit, SI and traceability templates, and financing bank.
  • Open Contracts: running contracts with this counterparty and their quantities.
  • Futures (brokers) and Hedges (suppliers): the derivatives activity linked to them, when those modules are on.
  • Details: KYC tier, when it was checked and is next due (highlighted when it’s coming up), credit insured, and the owner on your team. Any custom fields your admin added to counterparties appear here too.
  • Contacts: the people you deal with. Click + Add and enter a name, role (ops, finance) and email.
  • Activity: what changed on the record and when, for example “Linked as seller on contract VCS-P-2026-0688”.
New contract on a customer or supplier opens the contract form with this counterparty already filled in. On a trade’s legs and on an invoice, a Link button next to the buyer or seller connects the name on the document to a counterparty record (Change if it’s already linked). Search for the counterparty, create a new one, or skip for now. When you link a name that’s spelled differently from the record, for example “KANCHANA SIAM SUGAR CO LTD” on an invoice to Kanchana Siam Sugar Co., Ltd., Mercora remembers that spelling. The next document carrying exactly that spelling is linked to the same counterparty.

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Merge duplicates

If the same company has two records, merge them.
1

Start the merge

On one of the two records, open the … menu and choose Merge with…. Pick the other record. Only counterparties with the same role are offered.
2

Choose the result

The review shows both records side by side and the Result. For each field, click the value to keep, or use the pencil to type a different one. Switch sides swaps which record survives: the one on the right is kept.
3

Check what moves

The review lists the Open contracts, Open invoices and Accounts that move to the surviving record. Contacts move too. A contact whose email already exists on the surviving record isn’t duplicated.
4

Confirm

Type merge and click Merge counterparties.
A merge can’t be undone. The record on the left is removed and everything on it moves to the record on the right.
Delete counterparty in the same menu removes the record. Linked trades and invoices keep their data but lose the link. This can’t be undone either.

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Statements

A statement lists everything still open with a counterparty, ready to send.
  1. On the counterparty’s page, click Statement.
  2. The statement has a tab per currency. Each lists the open invoices by due date, with the outstanding amount and a running balance, and the Closing balance at the bottom.
  3. Click Download PDF to save it.
Only approved invoices with something outstanding appear. Paid, closed and superseded invoices are left out.

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Next steps

Contracts

Purchase and sales contracts with your counterparties.

Financials

Every invoice and what’s outstanding with each party.

Derivatives

Futures fills with your brokers.