Issue Direct Send Collection

Field/Control

Description

Terms

The General section of the Direct Send Collection page contains basic information about the Direct Send Collection issue transaction. The fields and controls contained in this section are described below.

Drawee

Search Image Link

Pressing this Image Link displays the Party Search page, where you can select the Drawee for the instrument from a list of non-bank parties. After you choose a party from the Party Search page, the transaction page redisplays with the Drawee fields loaded with the party's information. To complete each Drawee fields, you can either search for a party by pressing the Search Image Link button, or you can type the entry directly into each field.

If the Drawee you select in the Party Search page has a designated bank, the bank's information is loaded into the Collecting Bank area. This bank information can be overridden, if necessary.

Drawee Name*

The name of the Drawee for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the name directly into this field. This field can contain up to 35 characters and is a required field.

Phone Number

The phone number of the Drawee for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the phone number directly into this field. This field can contain up to 20 characters.

Address (Line 1)*

The first address line of the Drawee for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the address directly into this field. This field can contain up to 35 characters and is a required field.

Address (Line 2)

The second address line of the Drawee for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the address directly into this field. This field can contain up to 35 characters.

Address (Line 3)

The second address line of the Beneficiary for the instrument. This field replaces City, State and Postal Code. This field can contain up to 35 characters.

City*

The city of the Drawee for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the city directly into this field. This field can contain up to 23 characters and is a required field.

Province/State

The province or state of the Drawee for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the province or state directly into this field. This field can contain up to 8 characters.

Country*

The country of the Drawee for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can select the Drawee's country from this drop-down list. A country selection is required.

Postal Code

The postal code of the Drawee for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the postal code directly into this field. This field can contain up to 8 characters.

Drawer*

Search for a Drawer

Pressing this image link  displays the Party Search, where you can select the Drawer for the instrument from a list of non-bank parties. After you choose a party from the Party Search page, the transaction page redisplays with the Drawer text box loaded with the party's information in read-only form.

To change the Drawer information in the text box, press Search Image Link again to select a new party.

Collecting Bank*

Search for a Collecting Bank

Pressing this Image link displays the Party Search, where you can select the Collecting Bank for the instrument from a list of bank parties. After you choose a party from the Party Search page, the transaction page redisplays with the Collecting Bank text area loaded with the party's information in read-only form.

If the party you select in the Drawee area has a designated bank, the bank's information is loaded into the Collecting Bank area. This bank information can be changed, if necessary, by changing the Collecting Bank information here.

To change the Collecting Bank information, press Search Image Link again to select a new party.

Currency*

The currency for the instrument. To enter the currency, select one from this drop-down list. A currency selection is required.

Amount*

The amount of the transaction. This field can contain up to 22 characters and is a required field.

Your Reference Number

Your reference number for the instrument. This field can contain up to 30 characters.

Goods Description / Covering Shipment of

The goods description text for the instrument. To enter text, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. The text area can contain up to 500 characters.

Payment Terms*

Indicates when presentations will be payable under the terms of the instrument. To specify, select one of the following options:

·         Sight - Indicates that payment is due immediately upon receipt.

·         Cash Against Documents - Indicates that payment for goods is due when shipping documents are presented.

·         ____ days after ____ - Indicates that payment is due a specific number of days after a specific event (Shipment Date, Bill of Lading Date, Invoice Date, and so on). To specify this option, enter a number of days in the first text box and select a tenor type from the drop-down list.

·         At Fixed Maturity - Indicates that payment is due on a fixed maturity date. To specify this option, enter a the day, month, and year from the appropriate drop-down list. The fixed maturity date must be greater than the issue date.

·         Other - Indicates that the Multiple Tenor section of the transaction contains tenor option information. If you select this option, be sure to enter the details into the Multiple Tenor section.

·         Bill of Exchange Date - Indicates the Bill of Exchange Draft Date to be displayed in the Bill of exchange PDF.

Documents Presented

The Documents Presented section of the Issue Export Collection page contains information about documents that must be presented for the Export Collection issue transaction.

[document selections]

The documents that must be presented for the instrument. For each required document, select the checkbox for the document, specify the number of originals in the Number of Originals text box, and specify the number of copies in the Number of Copies text box. Some of the documents you can select here include Bill(s) of Exchange/Drafts, Commercial Invoice, and Bill of Lading.

If you select the Other document checkbox, you must also enter the document names and any associated text into the text area. To enter text, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. Each text area can contain up to 2000 characters.

Note: You can enter text for multiple documents in the Other text area.

Collection Instructions

The Collection Instructions section of the Issue Export Collection page contains information about the terms for the Export Collection issue transaction. The fields and controls contained in this section are described below.

[collection instruction options]

The collection instructions for the instrument. To specify, select one or more of the following checkboxes:

·         Release documents on payment

·         Release documents on acceptance

·         Advise payment by telecommunication

·         Advise acceptance by telecommunication

·         Advise non-payment by telecommunication

·         Advise non-acceptance by telecommunication

·         Note for non-payment

·         Note for non-acceptance

·         Protest for non-payment

·         Protest for non-acceptance

[additional instructions]

Any additional collection instructions for the instrument. To enter text, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. The text area can contain up to 500 characters.

In Case of Need, contact

Search Image Link

Pressing this image link displays the Party Search, where you can select the case of need contact for the instrument from a list of non-bank parties. After you choose a party from the Party Search page, the transaction page redisplays with the case of need contact fields loaded with the party's information.

To change the information in the fields, press Search Image Link again to select a new party.

Accept instructions from this party

Indicates whether instructions should be accepted from this case of need party. To specify this, select this option button.

Use instructions from this party for guidance only

Indicates whether instructions from this case of need party are for guidance only. To specify this, select this option button.

[additional Case of Need instructions text]

Any Case of Need instructions for the instrument. To enter text, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. The text area can contain up to 500 characters.

Charges*

[charges options]

Indicates who pays bank charges. To specify, select one of the following option buttons:

·         All bank charges, including overseas bank charges, are for the account of the Drawee, including our charges of: - Selecting this option button indicates that Drawee pays all bank charges. If you select this option, you must also enter text describing the bank charges for the instrument. To enter text, you can either type directly into the text area under this option button, or add a phrase from the drop-down list to the text area. The text area can contain up to 200 characters.

·         Overseas / other bank charges for account of the Drawee - Selecting this option button indicates that the Drawee pays any overseas or other bank charges.

·         All charges for account of the Drawer - Selecting this option button indicates that Drawer pays all charges.

[charge and interest waiver options]

Indicates how to handle charges and interest if they are refused by a party. To specify, select or leave cleared the following checkboxes:

·         Do not waive charges if refused - If this checkbox is selected, charges should not be waived if a party refuses to pay them. If this checkbox is left cleared, charges will be waived if a party refuses to pay them.

·         Do not waive interest if refused - If this checkbox is selected, interest should not be waived if the party refuses to pay it. If this checkbox is left cleared, interest charges will be waived if a party refuses to pay them.

Collect interest at

If this checkbox is selected, interest is to be collected on outstanding charges according to the interest terms specified in the extended text area. To specify the interest details, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. The text area can contain up to 200 characters.

Instructions to Bank

The Instructions to Bank section of the Issue Export Collection page contains instructions to your bank for the Export Collection issue transaction. The fields and controls contained in this section are described below.

[Special Instructions text]

The special instructions text for the transaction. To enter text, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. The text area can contain up to 1000 characters.

Settlement Instructions

Branch Code

The bank branch code for settlement. To specify, enter a bank code into the text box. This field can contain up to 30 characters.

Credit: Our Account Number

The debit account number for settlement. To specify, enter an account number into the text box. This field can contain up to 30 characters.

Credit: Foreign Ccy Account Number

The foreign currency debit account number for settlement. To specify, enter an account number into the text box. This field can contain up to 30 characters.

Currency of Account

The currency of the settlement foreign currency account. To specify, make a selection from the drop-down list.

Forward Exchange Contract (FEC)

Covered by FEC Number

The forward exchange contract (FEC) covering the settlement, if the instrument is in a currency other than the Applicant's base currency. To specify, enter an FEC number into the text box. This field can contain up to 14 characters.

Amount of FEC

The amount of the FEC. To specify, enter the amount into the text box. This field can contain up to 19 characters.

Rate of FEC

The rate of the FEC. To specify, enter the rate into the text box. This field can contain up to 14 characters, including a decimal character. The format for the rate you enter is 12345.12345678 (5 characters to the left of the decimal and 8 characters to the right of the decimal).

Maturity Date of FEC

The maturity date for the forward exchange contract. To enter the maturity date, select a day, month, and year from the appropriate drop-down list.

[additional Settlement text]

The additional text describing settlement or commissions and charges for the instrument. To enter text, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. The text area can contain up to 1000 characters.

Multiple Tenor

The Multiple Tenor section of the Direct Send Collection page contains information about the tenors that apply to the Direct Send Collection issue transaction. The fields and controls contained in this section are described below.

Tenor

The textual description of each tenor specified. This field can contain up to 35 characters. You can specify up to six tenors.

Amount

The amount of each tenor specified. This field can contain up to 22 characters.

Draft number

The draft number of each tenor specified. This field can contain up to 15 characters.