A company plans to engage in multi-party re-export trade and is confused about payment and collection operations, such as the rules and methods for fund flows when purchasing from Country A and selling to customers in Country B. The best answer points out the importance of clarifying the authenticity of the trade background, preparing a complete set of trade documents, using common methods like telegraphic transfer for payments and collections, paying attention to foreign exchange policies and exchange rate risks, selecting good banking partners, and ensuring document completeness and consistency.
What are the requirements for entrusted import and payment, do you know?
Resolved
Our company plans to find an agency company to handle import and payment business. We would like to understand the requirements for entrusted import and payment. What documents do we need to prepare? Is the entire process complicated? We hope to get a detailed answer from a professional so that we can have a clear understanding and prepare in advance.
Trade Expert Insights Answers
Linda GuoYears of service：3Customer Rating：5.0
Trade Dispute MediatorStart a Chat
The requirements for entrusted import and payment mainly include the following aspects. Firstly, a genuine and valid trade contract must be provided, which clearly states key information such as the description of goods, price, and delivery date. Secondly, relevant commercial invoices are required, clearly stating the value of the goods and other content. Thirdly, transportation documents such as bills of lading or waybills are also essential to prove the transportation of goods.
The enterprise must also ensure that it has legal import and export qualifications, and the agency company must also have corresponding qualifications. In terms of document preparation, in addition to the above-mentioned, packing lists, certificates of origin, etc. may also be required. In terms of the process, the agency company first signs an agency agreement with the principal, and then the agency company makes external payments and simultaneously handles import customs declaration and other procedures. Overall, if you are familiar with the requirements and have prepared the documents, the process is not very complicated.
Kevin HuangYears of service：3Customer Rating：5.0
E-Commerce Export AdvisorStart a Chat
When entrusting import and payment, the relevant regulations of the State Administration of Foreign Exchange must be complied with, for example, international revenue and expenditure shall be declared according to regulations, and the flow of funds shall be clear.
Emma ZhaoYears of service：3Customer Rating：5.0
Export Documentation SpecialistStart a Chat
The payment amount must match the value of the imported goods, and there should be no unreasonable discrepancies, otherwise, it may be subject to review.
Sophia WangYears of service：6Customer Rating：5.0
International Logistics CoordinatorStart a Chat
The documents involved in entrusted import and payment must be ensured to be genuine and complete, without any falsehood or omission, otherwise, it will affect the payment process.
Daniel KimYears of service：4Customer Rating：5.0
Commodity Inspection and Quarantine ConsultantStart a Chat
Pay attention to the timing of payment, make payment in time according to the contract, and avoid disputes caused by overdue payment.
Richard WuYears of service：8Customer Rating：5.0
Global Trade Operations ExpertStart a Chat
The enterprise's own foreign exchange account must be in a normal state to ensure the smooth completion of the payment operation.
Michael ZhangYears of service：10Customer Rating：5.0
Customs Clearance SpecialistStart a Chat
Cooperate with the agency company to carry out various review work before payment, such as reviewing the authenticity of the trade, etc.
Robert TanYears of service：5Customer Rating：5.0
International Market Development AdvisorStart a Chat
If the payment involves special goods import, additional permits or other special documents may be required.
David ChenYears of service：10Customer Rating：5.0
Trade Compliance AdvisorStart a Chat
Regarding the payment currency, it should be made in the currency stipulated in the contract or agreed upon by both parties, to avoid exchange rate risks.