Interested in export foreign trade agency business but lacking experience, asking how to get started. The best answer points out the need to be familiar with foreign trade processes, which can be learned through training; build a professional team; establish supplier and logistics channels; understand regulations and policies; and focus on customer service. In addition, registering a company to obtain qualifications, reserving capital, mastering foreign languages, and using foreign trade software are also important.
How to verify re-export trade, experienced friends are welcome to share their experiences?
Resolved
My company has recently engaged in re-export trade business and encountered some confusion in the verification stage. I have not dealt with this type of business before and am not clear about the specific verification process and required materials. I would like to ask everyone, how should re-export trade be verified? What materials are needed? Are there any special points to pay attention to? I hope experienced friends can elaborate, so we can take fewer detours.
Trade Expert Insights Answers
The general process for verifying re-export trade is as follows: Firstly, enterprises must ensure the authenticity of the trade and retain a complete set of trade documents such as contracts, invoices, and bills of lading. Secondly, for foreign exchange receipts, it must be handled through a suspense account, and the bank will review the authenticity and consistency of the relevant documents. For verification, bring import and export contracts, commercial invoices, transportation documents (such as bills of lading), remittance receipts, and other materials to the foreign exchange administration for processing. There may be slight differences in different regions, so it is recommended to consult the local foreign exchange administration in advance. It should be noted that the key to verifying re-export trade is the review of trade authenticity, and the documents must be authentic, valid, and correspond to each other. For example, the contract terms must match the invoice and bill of lading information, and the amounts and times of receipts and payments must be consistent with trade logic.
In addition, enterprises should promptly handle the verification to avoid overdue records, which may affect subsequent trade business development.
When verifying re-export trade, having complete documentation is crucial. In addition to common contracts and invoices, logistics vouchers should clearly show the movement path of the goods. If the goods have not actually entered or exited the country, then proof of this must be prepared for the foreign exchange administration to check.
When verifying re-export trade, pay attention to bank operations. Some banks have strict requirements on document formats. Communicating with the bank in advance and preparing documents according to their requirements can improve verification efficiency.
Pay attention to the flow of trade funds. The amounts of foreign exchange receipts and payments should preferably be consistent with the value of the goods. If they are inconsistent, there should be a reasonable explanation, otherwise, verification may be hindered.
When processing verification, foreign exchange administration staff may ask about trade details. Enterprise personnel should be familiar with the business process and be able to answer questions accurately to ensure smooth verification.
Electronic data retention is also important. Many processes are now digitized. Back up electronic contracts, invoices, etc., so they can be provided at any time.
If third-party trade is involved, relevant agreements should be kept and clearly explained in the verification process to clarify the relationship between fund and goods flow.
Trade terms should be clearly stated in the contract, as they relate to the transfer of risks and the bearing of costs for the goods, which is important for the verification review.
If re-export trade involves settlement in multiple currencies, the exchange rate conversions must be accurate, and relevant exchange rate proof materials should be prepared.