This transaction is used to create a collection and to store key contract data in the application. This data is then used to compile correspondence used in dispatching documents, which is sent either to the bank of the drawee or directly to the drawee, together with the collection documents presented by the presenting party.
With direct collections, the bank using the application is solely entrusted with processing payment and issuing possible reminders. Furthermore, documents are sent by the presenting party directly to the drawee or its bank. Correspondingly, checking the “Direct Collection” checkbox ensures that the application does not generate any correspondence used to dispatch documents.
If the checkbox “Physical Document is kept with Remitting Bank” is checked, the financial documents are kept with the remitting bank (the bank using the application) and are not presented to the collecting bank. Under bilateral agreements between the banks, they may actually send only an electronic message with all relevant information of the financial document(s) and hold on to the actual document just in case there are problems in collecting it. This is called 'Truncation'. The drawee knows about the documents drawn against him and will pay against a receipt from his bank. This way, the transactions can be handled much faster and much more cost-efficiently compared to the use of paper documents that have to be mailed via the collecting bank to the drawee in another country. The electronic message used can be a SWIFT MT 405. A SWIFT MT405 is currently not supported in the application, as this message can only be used by banks that subscribe to the Message User Group (MUG).
Note: The currency can only be changed, if no liability has been booked yet. When changing the currency, the amount is booked out with the old currency and booked in again with the new currency.
This transaction creates a new Export Collection contract.
If an existing Export Collection contract is used, it may not be open or closed.
An existing Export Collection may not be a Clean Collection.
Channel | Description | MT | Description | Comment |
---|---|---|---|---|
T | TradeConnect | T41 | Direct Collection | |
T | TradeConnect | T43 | Additional Mail under an Export Collection |
For incoming allNETT / RIVO messages see Overview of Incoming messages - allNETT / RIVO.
Fee Code | Set as Default | Units | from | until | Comment |
---|---|---|---|---|---|
BOFHAN | Yes | 1 | today | today |
For more information see TRNDIA Diaries.
Action | Description | Diary | Follow-up Transaction | Comment |
---|---|---|---|---|
Create | Documents accepted/Collection amount received? | Today + 20 Working Days or on maturity date | Sending Tracer / Advice of Fate | Diary is on maturity date if available, otherwise 20 days after today |
No liability is booked. The document amount is updated internally.
Details on creation of messages can be found under DOCEOT Messages. For outgoing allNETT / RIVO messages see Overview of Outgoing messages - allNETT / RIVO.
Name of Message | Receiver | Message ID | SWIFT | TCO | Comment |
---|---|---|---|---|---|
Documentary Collection Order 1st | Collecting Bank/Drawee | BOTCOL1 | Not with direct collection | ||
Documentary Collection Order 2nd | Selected Party or Receiver from Documentary Collection Order 1st | BOTCOL2 | With direct collection not to Collecting Bank/Drawee | ||
Acknowledgment of Collection | Remitting bank/Drawer | BOTDRR1 | 410 | T14 |
Signature required
Overview
Instructions
Shipping Details
allNETT Fields
Parties
Received Instructions
Liability
Settlement Details
Settlement
Bookings
Cash Cover
DTAEA Fields
DTALC Fields
Completion
Incoming Tag 72/79
Messages
Compliance
Attachments
Fee Conditions
DTAG Fields
Datafield | Description |
---|---|
Own Reference | cf Appendix A, Table BOD field OWNREF |
Responsible User | cf Appendix A, Table BOD field OWNUSR |
Direct Collection | cf Appendix A, Table BOD field DIRCOLFLG |
Currency | cf Appendix A, Table CBB field CUR |
Collection Amount | cf Appendix A, Table CBB field AMT |
Direct rejection | cf Appendix A, Table BOD field REJFLG |
Applicable Rule Checkbox | cf Appendix A, Table BOD field APPRULFLG |
Currency | cf Appendix A, Table CBB field CUR |
Open Collection Amount | This field contains the amount which has not been paid under the collection. cf Appendix A, Table CBB field AMT |
Reserved Contract | cf Appendix A, Table BOD field RESFLG |
Date of Receipt of Documents | cf Appendix A, Table BOD field RCVDAT |
Date of Shipment | cf Appendix A, Table BOD field SHPDAT |
Presentation Date | cf Appendix A, Table BOD field PREDAT |
Date of Advice of Documents Received | cf Appendix A, Table BOD field ADVDAT |
Collection Condition | cf Appendix A, Table BOD field DOCTYPCOD |
Maturity Date | cf Appendix A, Table BOD field MATDAT |
Number of Days/Months for Maturity Period | cf Appendix A, Table BOD field MATPERCNT |
Days/Months or Years for Maturity Period | cf Appendix A, Table BOD field MATPERTYP |
Start of Maturity Period | cf Appendix A, Table BOD field MATPERBEG |
BO Tenor Details | cf Appendix A, Table BOT field BOGDET |
Copies in 1st Mail | This field contains the number of documents in figures to be sent with the first mail. If documents are to be sent with one mail only, insert the total number of each document in this column. |
Copies in 2nd Mail | This field contains the number of documents to be sent by second mail (if any) |
Document Description | This field contains the kind of document to be mentioned in the document specification. Either select a document from the selection list or enter the document manually. |
External Key | cf Appendix A, Table PTS field EXTKEY |
Address Block | cf Appendix A, Table PTS field ADRBLK |
Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
External Key | cf Appendix A, Table PTS field EXTKEY |
Address Block | cf Appendix A, Table PTS field ADRBLK |
Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
External Key | cf Appendix A, Table PTS field EXTKEY |
Address Block | cf Appendix A, Table PTS field ADRBLK |
Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
Country Code (Risk Country) | cf Appendix A, Table BOD field STACTY |
Goods Code (for Statistics) | cf Appendix A, Table BOD field STAGOD |
Datafield | Description |
---|---|
Collection Instructions | cf Appendix A, Table BOT field COLINS |
Delivery of Documents Instructions modified | cf Appendix A, Table BOT field COLINSFLG |
Draft Instructions | cf Appendix A, Table BOT field DFTINS |
Protest Instructions | cf Appendix A, Table BOT field PROINS |
Other Instructions | cf Appendix A, Table BOT field OTHINS |
ALADI Checkbox | cf Appendix A, Table BOD field ALADIFLG |
ALADI Reimb. Code | cf Appendix A, Table BOD field ALADICOD |
Fee settlement - our fee to be debited to | cf Appendix A, Table BOD field CHATO |
Charges Text | cf Appendix A, Table BOT field CHGTXT |
Free of Payment | cf Appendix A, Table BOD field FOCFLG |
Waive Collecting Bank Charges | cf Appendix A, Table BOD field WAICOLCOD |
Waive Remitting Bank Charges | cf Appendix A, Table BOD field WAIRMTCOD |
Defer Payment Until | cf Appendix A, Table BOD field OTHINS |
2nd Mail Date | If documents are to be presented in a second mailing, this field contains the date of the second mail. |
Receiver of Second Mail | cf Appendix A, Table BOD field MSGROL |
External Key | cf Appendix A, Table PTS field EXTKEY |
Address Block | cf Appendix A, Table PTS field ADRBLK |
Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
Datafield | Description |
---|---|
Transport Document Type | cf Appendix A, Table BOD field TRPDOCTYP |
Transport Document No. | cf Appendix A, Table BOD field TRPDOCNUM |
Date of Transport Document | cf Appendix A, Table BOD field TRADAT |
Mode of Transport | cf Appendix A, Table BOD field TRAMOD |
Name of Vessel | cf Appendix A, Table BOT field VESSELNAM |
Shipment from | cf Appendix A, Table BOD field SHPFRO |
For Transportation to | cf Appendix A, Table BOD field SHPTO |
Goods Description | cf Appendix A, Table BOT field GODDES |
Datafield | Description |
---|---|
Send Documents via | cf Appendix A, Table BOD field ANTSNDBY |
If Draft is Accepted | cf Appendix A, Table BOD field ANTDFTACP |
Protest in case of Non-Payment | cf Appendix A, Table BOD field ANTPTSPAY |
Protest in case of Non-Acceptance | cf Appendix A, Table BOD field ANTPTSACP |
Keep documents at no charge | cf Appendix A, Table BOD field ANTDOCCHG |
Store goods | cf Appendix A, Table BOD field ANTSTOGOD |
In case of need refer to | cf Appendix A, Table BOT field ANTAGTDET |
Instuctionauthorization | cf Appendix A, Table BOD field ANTAGTINS |
Collect Interest from Drawee | cf Appendix A, Table BOD field ANTCOLINT |
incoming allNETT Account Details | cf Appendix A, Table BOT field INCACCDET |
Interest Rate | cf Appendix A, Table BOD field ANTINTRAT |
Interest Start Date | cf Appendix A, Table BOD field ANTINTDAT |
In case refused | cf Appendix A, Table BOD field ANTINTREF |
Datafield | Description |
---|---|
External Key | cf Appendix A, Table PTS field EXTKEY |
Address Block | cf Appendix A, Table PTS field ADRBLK |
Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
External Key | cf Appendix A, Table PTS field EXTKEY |
Address Block | cf Appendix A, Table PTS field ADRBLK |
Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
Name | cf Appendix A, Table PTS field NAM |
Datafield | Description |
---|---|
Interest Instructions | cf Appendix A, Table BOT field INTINS |
Payment Information | cf Appendix A, Table BOT field SETINSBO |
Authority of Agent | cf Appendix A, Table BOT field AGTAUT |