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.
How to Circumvent Sanctions via Vietnam in Re-export Trade? What are the Specific Operational Methods?
Resolved
Our company is engaged in re-export trade and has recently been facing some sanctions pressure. We heard that we can use Vietnam to deal with this. We would like to understand how to circumvent sanctions through Vietnam in re-export trade? What are the specific operational steps and precautions? We hope to get a detailed and practical answer. Thank you!
Trade Expert Insights Answers
Daniel KimYears of service：4Customer Rating：5.0
Commodity Inspection and Quarantine ConsultantStart a Chat
When circumventing sanctions through Vietnam in re-export trade, the first step is to plan the cargo transportation route well. The goods are first transported to a Vietnamese port, where operations such as re-packaging and re-labeling are carried out in a Vietnamese bonded area or warehouse to remove any markings indicating the original country of production. Then, the goods are exported to the target customer under the name of a Vietnamese local company.
Document handling is also crucial. A complete set of documents, including commercial invoices, packing lists, and bills of lading, must be issued under the name of the Vietnamese local company. The information in the documents must be consistent with the actual situation of the goods and the transportation arrangements. Find a professional freight forwarding company, such as Zhongmaoda, which can assist in handling complex logistics and documentation matters.
At the same time, attention must be paid to compliance. Vietnam has relevant trade regulations, and illegal acts such as false declarations cannot be made to circumvent sanctions. It is also necessary to pay attention to the diplomatic and trade relations between Vietnam and the sanctioning countries to avoid plans being hindered due to changes in relations.
Kevin HuangYears of service：3Customer Rating：5.0
E-Commerce Export AdvisorStart a Chat
Choosing a suitable Vietnamese transit port is important, such as Ho Chi Minh Port, which has complete logistics facilities and rich experience in handling re-export business. This can complete cargo transit operations more efficiently and reduce cargo dwell time.
Linda GuoYears of service：3Customer Rating：5.0
Trade Dispute MediatorStart a Chat
Establishing good cooperative relationships with local Vietnamese suppliers is also helpful. They are familiar with the local situation and can assist in handling some unexpected problems, and can also provide convenience in document preparation and customs clearance.
Robert TanYears of service：5Customer Rating：5.0
International Market Development AdvisorStart a Chat
Setting up an office or entrusting a reliable agent in Vietnam can help to follow up on the cargo situation more promptly, ensure the smooth progress of the re-export process, and respond to and resolve problems quickly.
Olivia LiuYears of service：6Customer Rating：5.0
Foreign Exchange Risk ManagerStart a Chat
Pay attention to the details of cargo packaging replacement. The new packaging must not reveal any information about the original country of production. Labels and (shipping marks) must be redesigned to comply with Vietnamese export regulations.
Richard WuYears of service：8Customer Rating：5.0
Global Trade Operations ExpertStart a Chat
Understand in advance the key points and procedures for customs inspection of re-exported goods in Vietnam, and prepare relevant documents to avoid delays and increased costs due to customs inspection.
David ChenYears of service：10Customer Rating：5.0
Trade Compliance AdvisorStart a Chat
Closely monitor the international situation and changes in sanctions policies. Once sanctions policies change, adjust the re-export trade plan in a timely manner to prevent greater impact.
Emma ZhaoYears of service：3Customer Rating：5.0
Export Documentation SpecialistStart a Chat
When selecting Vietnamese partners, conduct background checks to ensure their good reputation and avoid fraud or other adverse situations during cooperation.
Michael ZhangYears of service：10Customer Rating：5.0
Customs Clearance SpecialistStart a Chat
Re-export trade involves multiple transportation and loading/unloading operations. Cargo insurance should be arranged to ensure the safety of the goods during transportation and reduce the risk of loss.