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Sending a Clean Collection
Transaction BOTSCC
This transaction records collection data, compiles the cover letter or collection message and sends it to the collecting bank.
Under bilateral agreements, banks need only to send an electronic message containing all information relevant to the financial document(s). Real documents are held should problems arise with the collection. This process is called 'truncation'. The drawee knows about the documents drawn against him and will pay against a receipt from his bank. In this way, transactions can be handled much faster and much more economically compared to paper documents, that have to be mailed via the collecting bank to the drawee abroad.
As an alternative, the instructing party can be paid under reserve. The amount paid must correspond to one or all of the financial documents. For the sake of simplicity, the application only allows the payment of the full collection amount under reserve.
If the checkbox “Payment under Reserve” in this transaction is checked, a payment under reserve will have been already issued when opening the contract (payment to presenting party, debiting the own internal account). The payment under reserve is settled again in the payment transaction by debiting the own internal account.
Note: The currency can only be changed as long as no liability has been booked. When changing the currency, the amount is booked out in the old currency and is booked in again in the new currency.
Second post fields are disabled in this transaction. With clean collections, documents are usually only sent that are not issued in multiple originals. This makes the second post somewhat superficial.
Requirements
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 must be a Clean Collection.
Incoming Messages
| Channel | Description | MT | Description | Comment |
|---|---|---|---|---|
| T | TradeConnect | T42 | Draft Collection |
Transaction Control
Fees
| Fee Code | Set as Default | Units | from | until | Comment |
|---|---|---|---|---|---|
| BOFCCL | Yes | 1 | today | today | |
| BOFPUR | Yes | 1 | today | today | If “Payment under Reserve” filled. |
Commissions
Results of this Transaction
Diaries
For more information see TRNDIA Diaries.
| Action | Description | Diary | Follow-up Transaction | Comment |
|---|---|---|---|---|
| Replace | Collection amount received? | Today + 10 Working Days | Sending Tracer / Advice of Fate |
Updating/Storing of Amounts (CBS)
Liability (LIA)
In case of a payment under reserve, the total amount of the collection will be booked in the liability as 'Payment under reserve' (REP). If no payment is made to the presenter, no liability will be booked.
Outgoing Correspondence
Details on creation of messages can be found under DOCEOT Messages.
| Name of Message | Receiver | Message ID | SWIFT | TCO | Comment |
|---|---|---|---|---|---|
| Advice of Clean Collection | Collecting Bank/Drawee | BOTCOL1 | |||
| Acknowledgment | Remitting Bank/Drawer | BOTDRR1 | 410 | T14 |
Release
Signature required
Transaction Panels
Overview
Shipping Details
allNETT Fields
Parties
Received Instructions
Instructions
Liability
Settlement Details
Settlement
Bookings
Cash Cover
DTAEA Fields
DTALC Fields
Completion
Incoming Tag 72/79
Messages
Compliance
Attachments
Fee Conditions
DTAG Fields
Overview
Datafields
| 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 |
Shipping Details
Datafields
| 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 |
allNETT Fields
Datafields
| 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 |
Parties
Datafields
| 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 |
Received Instructions
Datafields
| Datafield | Description |
|---|---|
| Draft Instructions | cf Appendix A, Table BOT field DFTINS |
| 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 |
Instructions
Datafields
| Datafield | Description |
|---|---|
| Collection Instructions | cf Appendix A, Table BOT field COLINS |
| Delivery of Documents Instructions modified | cf Appendix A, Table BOT field COLINSFLG |
| 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 |
Compliance
DTAG Fields
