Well I just got bounced by NAFA to

Just got it in the mail and no one home at NAFA. Fastest I ever made a phone call. Nine dollars on my return fee. Never would have thought it. Hope ya'll having better luck.

Wow

I've been watching other thread. Been a few years since I've shipped.

Guess it will be a few more?

I said more the WOW.

Sad part is

Nobody will be able to do anything if they are filling bankrupt!?

Man alive

How many guys send fur up there that make a living at it?

I don't really understand the reasons why I was told on the phone. . she said about 10% of the checks were bounced and they would make it right in October

Well either way

I'm out! I'll tan it or sell local.

When bank called this afternoon they said they would send me a statement that included the bank fees. The NAFA operator said to call them with the amount of the fee and they will reimburse that also. If they receive no call only the amount of the bad check will be sent.

Bounced checks happen with errors in changing banks etc, I’ve seen it happen to very good businesses. I’ve seen entire payrolls bounce because funds weren’t transferred from A to B. (I’m a commercial banker).

What’s concerning to me, is waiting until October to reconcile the issue. Why? Cash flow problems? Bounced checks should be repaid immediately. They should still have the funds because they were never paid. The only cost is the fees.

Always have!

shouldn't have given away all those free dvd's

Wow, I was planning on shipping to nafa this year, but if they are having this kind of problem I'm not so sure now. Problem is, im not sure what else to do. There are few if any local buyers in the immediate area and I've never had good luck with the guys that run routs in the area...

And I didn't get money or a free DVD, lol.

Bingo!

Paul! Could you locate a NAFA shill to come on here and put out the latest fire? Thanks!

If I remember correctly one auction house in Canada went belly up in the 80’s. Lots of money lost.

So does this mean they will not be giving out rebates this season? LLL

Yup,

Dominion-Soudak, and Ontario Trapper's Association Auction;

The Fore-Runner to Fur Harvester's Auction.

w

I’m quite sure Dominion-Soudack was never part of the Ontario Trappers Association.

They merged with Hudson Bay, which eventually turned into NAFA.

It was the Ontario Trappers Association that went bankrupt.

Groeny's business just increased lol

I guess WFSC won't be doing a Possum handling & marketing DVD now, either.

w

Nancy,

I didn't say Dominion-Soudak and Ontario Trapper's Association Auction were connected.

Two separate businesses. I was simply listing them both one behind the other.

One in Winnepeg, the other in North Bay.

But They both went belly up in the 1980's

Ask me how I know ?

Do any of u guys belong to both Nafa and fha?

Not sure when they pay, but here at farm auctions the farm writes the check to the person having the the sale, not the auction company, but if the check bounces the auction company will go after them. My point is maybe Nafa paid out money out of their pocket then one of the purchasers bought fur, took fur, and bounced their check to nafa so now they are having to stand it and cash flow could be an issue.

Didn't read all the posts so I don't know if anyone said this but cash the checks then deposit them. Did that for years when I owned rental properties cause I was sick of getting burned

If something like that did happen, then maybe NAFA should only accept purchaser payment in the form of either Certified Check, Wire Transfer of Funds, or Credit Card payment.

Dirk, the check that bit me was cashed. My bank called me this afternoon to tell me it bounced and the money withdrawn from my account plus a bounced check fee. Just because you get cash doesn't place the burden on your bank. Grocery store, bar, check cashing business, doesn't matter. It comes back on you and you have to go after the person or business who wrote it.

Don't know much about banks and how they work in these instances but when I started cashing checks instead of depositing them, I never got burned. Hope you get it straightened out

Mine bounced too

Personally I've never seen (and being in the ag business I've seen quite a few)an auction company or commission company that bounced checks in the custodial account the did go under. But there's always an expectation. I don't know how it works in Canda but down here its usually a serious crime to not have the funds in a custodial to cover the sellers checks.

Someone needs to get Justin Trudeau's phone number, and everyone call his office and complain. Tell them you want to file a complaint. Then turn around and call the Whitehouse in Washington, and tell them what the Canadians are doing to the American trappers. That should get things stirred up a little ….

Garry-

Well I think I’m not going to deposit mine. Sent them an email yesterday but no reply yet. I’m more concerned about the fur they’re sitting on.

Groney's gonna need a bigger truck.

I cashed two this year, one about a month ago with no problems

Been reading through these posts on this topic, and I got a question...……………


So, Trapper ships his or her furs to the Auction. They get sold.

Buyer pays NAFA for the Furs, and then the Trapper finds out that the check from the buyer to NAFA bounced.

Question:

Did NAFA ship the furs to the Buyer who bought the furs, and gave NAFA the check that bounced ? If the Buyer has the furs, does NAFA have any ability to get the furs back from the Buyer; since the Buyer had to of known that check they wrote would not cover the amount it was written for.

no buyers involved.....changed bank is what NAFA claiming

Isn't the whole point of getting paid about 3 weeks after the end of the auction is that all the financials are straightened away? If NAFA isn't making sure the IOUs they're getting from the buyers is good, why does it take 3 weeks for checks to go out?

For you GFW fans, do you think they can expand their selling that quickly if say 50% of NAFA's shippers suddenly start coming to their trucks? Or is it going to be, "I'm one of the only big options left, they'll take what I want to give them." Look up "Hobson's choice" sometime...

I am calling bovine excrement. No way in the world does the, "We changed banks" story hold water. Good grief.

I think the story is the bank dumped NAFA. Not, NAFA changed banks.

In my opinion … I know what that is worth …. NADA.... Any large International Business today, dealing with another large International businesses will not be using checks, but money transfer by wire. I was involved with such a transaction a few years back. There a bill of sale for the goods... the money was transferred by wire (computer). It took 2 days for the banks to contact us that the transaction had been completed and the funds were clear and in our account. At that time we shipped the property to the buyer. I can't imagine any large company or business writing a check today and if the did, whether is for $1.00 or $1,000,000 dollars. you don't ship the product before the sale is final and that is when you have the funds completely under your control. I won't venture to speculate what NAFA does, from some of the comments on this and other recent posts. But I don't believe changing banks is their problem. Sound more like fiscal management.

Garry-

That's right.... send in the Biden boys.

Most of the major buyers at NAFA do not write a check for their purchases. People just don’t write a check for a million plus dollars.

They pay via wire transfer or Letter of Credit. Both of which are legally binding financial documents. Which means it is just like handing NAFA a wad of hundred dollar bills. Instant guaranteed money.

Some smaller buyers do write checks, most often for less than $100,000.00. If there is a question about the check being good, NAFA will hold the shipment until the check has cleared.

It takes very rare und unusual circumstances before NAFA will ship the goods unless they are fully paid for.

If they put all that cash in your hands for short term bank to bank loans (rolling it over daily?), how much much will a $million return between now and Oct?

Well I guess Petska will get all my coyotes this season.

It shouldn't take 3 weeks to get your check from an auction house. The way I see it, they are working for me. They have no way to get screwed by me, pay me up right away and if you get screwed, you go after them. I have no way of knowing who the buyer that didn't pay is or where they live to seek restitution.
I know this isn't the deal going on right now but with instant electronic money transfers why else would it take so long.

I ship to both depending on a bunch of different factors. All I can say is having two auction houses running is key to keeping some competition going. Imagine what the commission would be if there's only one auction house to ship too.

Sounds like it's going to be AT LEAST 11% here very shortly once NAFA goes teats up !!

w

Nevermind

Yep..So has NAFA come out with a "Damage Control" statement yet?

Talked to Gary @ Groney this morning. He's going to add a stop in Alabama for our high quality southern fur. He said he would take green beaver and otter and everything else stretched and dried. At least we will finally have another option if needed.

I never ship to fha. So can't say really, but read fha auction results, almost always lower clearance an lower prices in everthing then nafa except beaver. Sometimes. At best the same price nafa, but this is a report on averages of what sold in auction, if I sent to them, could be different results an higher prices than the sale average

I've compared auction results from NAFA and FHA for more than a decade. Apples to apples, they are pretty much the same as far as I can tell. If anything, FHA has a slight edge.