# How to Create a New Rate Type
1. In **ERM**, Click on the **Pricing** section and select **Rate Types**.
2. Click **+ Create New Rate Type**.
3. Complete the detais in the form.
| **Column** | **Description** |
| ----------- | -------------------------------------------------------------------------------------------------------------------------------- |
| Name | The unique identifier for the rate type |
| Description | A brief explanation of the rate type’s purpose or application. |
| Default | Indicates which rate type is automatically selected by the system for new records. Only one rate type can be set as the default. |
| Enabled | Indicates whether the rate type is active and available for use within the system. |
4. Click on **Save**.
5. The new rate type will appear in the main grid and will be available for selection in pricing lists.
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