Direct Bank Collection Form

In this activity, we need to know how a direct bank collection form letter. For this air freight shipment you have the option to either use the traditional bank channel or suggest a different, possibly more efficient, manner of following shipper's C.O.D. instructions, especially considering that it is air freight and time is of the essence.

Shipper:	Canadian Manufacturing Inc.
	20 Royal York Rd.
	Mississauga, Ontario
	L5S 2R5, Canada
Buyers:	sterreichische Fabrikationsbetrieb GmbH.
	Vorarlberg Str.
	Linz
	4020, Austria
Consignment:	1 crate of barbeque parts, 675 kg - 2.5 m3
	February 5, 2017, AC AWB 014-1234 4321
Value EXW Montral:	CAN $31,000.00
Canadian bank:	Bank of Nova Scotia
Austrian bank:	Wiener Handelsbank AG, Vienna
Terms of payment:	Cash against documents

1. If you use a direct bank collection method, how would you consign the air waybill?

1. How would you forward the completed direct bank collection letter?

1. What kind of documents would you send with this direct bank collection letter?

1. What other option do you think you may have to comply with shipper's instructions for you to arrange for the C.O.D.? Explain.

1. Complete the direct collection form letter and the bill of exchange.

Always Quote Reference Number DC. 1152 /18572 THE BANK OF NOVA SCOTIA DIRECT Ontario International Banking Centre COLLECTION Date 181 University Ave., Suite 1916 Toronto, ON Canada M5H 3M7 Mail to: (Collecting Bank) Drawee: (Name and Address) WE ENCLOSE THE FOLLOWING DRAFT(S) AND/OR DOCUMENTS FOR COLLECTION AND REMITTANCE AFTER FINAL PAYMENT ONLY. PLEASE HANDLE THIS COLLECTION AS IF RECEIVED DIRECTLY FROM THE ABOVE OFFICE OF THE BANK OF NOVA SCOTIA TO YOUR ACKNOWLEDGEMENT. ALL REPORTS AND PAYMENT IS TO BE DIRECTED ALWAYS QUOTING THE ABOVE REFERENCE NUMBER THIS COLLECTION IS SUBJECT TO THE UNIFORM RULES FOR COLLECTIONS (1995 REVISION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 522. From Drawer (Name and Address) Drawers Ref. No. Tenor Currency & Amount Covering shipment of: Vessel or Carrier Bill of Lading No. ENCLOSED DRAFTS BILLS OF LADING INVOICES INSURANCE CERTIFICATE PACKING AIR CERTIFICATE OF ORIGIN LIST WAVBILL ORIGINAL HH COMMERCIAL CUSTOMS CONSULAR FIRSTMAIL SECOND MAIL OBSERVE INSTRUCTIONS MARKED \"X\" BELOW DOCUMENTS DELIVER AGAINST PAYMENT DELIVER AGAINST ACCEPTANCE HOLD FOR ARRIVAL OF GOODS PROTEST PROTEST NON-PAYMENT PROTEST NON-ACCEPTANCE DO NOT PROTEST ALL CHARGES L FOR ACCOUNT DRAWER L FOR ACCOUNT DRAWEE L WAVE CHARGES IF REFUSED BY DRAWEE INCLUDING EXCHANGE, INCURE NO CABLE EXPENSE COLLECT THE BANK OF NOVA DO NOT WAIVE CHARGES STAMP, TAXES, ETC. SCOTIA CHARGES OF 23.00 WITHOUT FURTHER INSTRUCTIONS INTEREST COLLECT INTEREST AT % PER ANNUM FROM TO FOR DELAY IN PAYMENT COLLECT INTEREST AT % P.A. FROM DO NOT WAIVE WITHOUT DUE DATE LISTED, APPROXIMATE ARRIVAL OF PROCEEDS AT DEST. FURTHER INSTRUCTIONS ALLOW DISCOUNT OF IF PAID FATE ADVICES BY AIRMAIL ACCEPTANCE NON-ACCEPTANCE NON-PAYMENT BY CABLE ACCEPTANCE NON-ACCEPTANCE NON-PAYMENT REMIT PROCEEDS AIRLINE 3RIME BANKERS DRAFT ON TORONTO (Cdn. funds) NEW YORK (U.S. funds) IN THE CURRENCY OF THE CALBE/TELEX/SWIFT AT DRAWERS EXPENSE AT DRAWEES EXPENSE COLLECTION BY LOCAL CURRENCY IN THE EVENT FOREIGN EXCHANGE IS NOT IMMEDIATELY OBTAINABLE, A PROVISIONAL DEPOSIT IN LOCAL CURRENCY MAY BE ACCEPTED WITH DRAWEES WRITTEN UNDERSTANDING TO ASSUME ALL EXCHANGE PRICES TO EXPECT FULL SETTLEMENT IN THE CURRENCY OF THE COLLECTION. Do NOT SURRENDER DRAFT UNTIL FINAL SETTLEMENT FOR FACE AMOUNT IS RECEIVED FOR REMITTANCE. IN CASE OF NEED WHO WILL ENDEAVOUR IN HAVING DRAFT REFER TO HONOURED As DRAWN WHOSE INSTRUCTIONS MAY BE ACCEPTED IN EVERY RESPECT SPECIAL INSTRUCTIONS PREPARED BY (NAME OF FORWARDER) SIGNATURE