Re: NAFA auto deposit.
[Re: Kansas Rook]
#6481675
03/05/19 03:40 PM
03/05/19 03:40 PM
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Joined: Aug 2011
Posts: 45,726 james bay frontierOnt.
Boco
trapper
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trapper
Joined: Aug 2011
Posts: 45,726
james bay frontierOnt.
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They publish the prompt date. I imagine the proceeds will be deposited on the prompt date. I always receive my cheque on the prompt date also.
Forget that fear of gravity-get a little savagery in your life.
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Re: NAFA auto deposit.
[Re: Kansas Rook]
#6481791
03/05/19 05:41 PM
03/05/19 05:41 PM
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Joined: Sep 2010
Posts: 6,658 NC, Orange Co.
QuietButDeadly
trapper
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trapper
Joined: Sep 2010
Posts: 6,658
NC, Orange Co.
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I had articles sell in the December clean out and have already been paid for them. I got the financial statement along with the paper check. I do not remember the date when the check was issued but there was a thread on here discussing folks receiving their checks for their Dec. PT Sales.
Life Member: NCTA, VTA, NTA, TTFHA, MFTI Member: FTA NRA NWTF
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Re: NAFA auto deposit.
[Re: Kansas Rook]
#6481807
03/05/19 05:54 PM
03/05/19 05:54 PM
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Joined: Jan 2012
Posts: 683 saskatchewan canada
kingrat
trapper
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trapper
Joined: Jan 2012
Posts: 683
saskatchewan canada
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I am interested to see how long it takes for them to credit accounts following this sale. One of the biggest complaints has always been waiting for them to cut checks. Any guesses? Direct deposit is not any faster. It's always on the prompt date which as mentioned is 3 weeks after the sale.
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Re: NAFA auto deposit.
[Re: Kansas Rook]
#6481943
03/05/19 07:49 PM
03/05/19 07:49 PM
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Joined: Jan 2007
Posts: 16,722 north Idaho
wissmiss
trapper
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trapper
Joined: Jan 2007
Posts: 16,722
north Idaho
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The following is copied directly from the NAFA web site. it explains the payment options buyers have and charges if the account is not paid in full by prompt date. Self-explanitory if you carefully read through it.
Feb 12, 2019
In advance of the February/March 2019 auction, NAFA is pleased to offer highly competitive selling terms to our buyers: - All invoiced goods fully paid by Prompt Day (March 25, 2019) will be eligible to receive a sales rebate on the hammer price of 1/2 of 1%. - The following interest rates will be in effect for all February/March 2019 purchases:
• With a minimum 35% deposit paid by Prompt Day the interest rate will be 7.5%. There will be no storage and insurance charges up and until October 21, 2019 after which regular storage and insurance charges will apply. • With a minimum 25% deposit paid by Prompt Day, the interest rate will be 9.5% • With a Prompt Day deposit less than 25%, the interest rate will be 13.5%. NAFA also reserves the right to resell any purchased goods with a low deposit level at its discretion. • All interest rates stated above will increase by 2% 60 days after Prompt Day. For buyers wishing to purchase and hold mink beyond the current season, NAFA will offer Long Term Buyer Storage for mink purchased in the February/March 2019 auction for free until September 1, 2020, as long as the goods are fully paid, including all applicable commissions and charges by Prompt Day (March 25, 2019).
A minimum purchase of 10,000 skins is required to take advantage of this program. No other previously announced buyer rebates are applicable. No resale fee will be charged on the goods held in this program. Insurance on stored goods under this program will be at market value. Additional insurance may be obtained through NAFA at the buyers own cost.
After September 1, 2020, a storage fee of $0.02 per skin per month will be levied on any skins remaining for one further year ending September 1, 2021 at which time, all future storage arrangements and charges must be renegotiated with NAFA.
All other Terms and Conditions of Sale remain as published in the auction information package.
As has been our practice, NAFA continues to be happy to accept irrevocable letters of credit with competitive terms. Please contact our Buyer Services department (bservice@nafa.ca) for full information and instructions.
Please click for a printable PDF: February/March 2019 Selling Terms
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Re: NAFA auto deposit.
[Re: Kansas Rook]
#6481946
03/05/19 07:51 PM
03/05/19 07:51 PM
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Joined: Jan 2015
Posts: 3,446 Houghton Lake, MI
strike2x
trapper
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trapper
Joined: Jan 2015
Posts: 3,446
Houghton Lake, MI
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I personally like the direct deposit form NAFA. It would cost me more to drive to the bank than the check amount would be.
Wish I had more time to trap....
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Re: NAFA auto deposit.
[Re: Kansas Rook]
#6481959
03/05/19 07:59 PM
03/05/19 07:59 PM
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Joined: Jan 2007
Posts: 16,722 north Idaho
wissmiss
trapper
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trapper
Joined: Jan 2007
Posts: 16,722
north Idaho
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If a buyer buys goods PT say on December 10, he has 2 weeks to pay for the goods or additional fees apply. That is the general rule.
No matter when or how the goods are purchased, they do not leave the NAFA facility until paid in full. This is the general rule.
I keep saying "general rule" because there are always special circumstances where exceptions are made. The type of exceptions demand on how important you are in the fur buying world. In other words, how much money you spend. If a buyer spends $25.000.00, he isn't special. If he spends $250,000.00, he is sort of special. If he spends $2,500.000.00 at one auction, he is important and MIGHT be able to ask for a special favor now and then. But not too often.
The auctioneers and PT people and upper echelon at NAFA know their buyers very, very well!!
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