There are only two payment methods we can accept, a sight letter of credit and T/T.
T/T is a payment method. Telegraphic transfer for short is the abbreviation of TelegraphicTransfer. It is settled in foreign exchange cash. Your customer remits the money to the foreign exchange bank account designated by your company, and can request the remittance within a certain period of time after the goods arrive. T/T belongs to commercial credit, which means that the final decision on payment lies with the customer. The most commonly used T/T sights are 40% prepaid and 70% sight. After the goods are ready, if the customer pays in full, you can send the documents directly to the customer without going through the bank. Business is divided into pre-T/T (payment in advance) and post-T/T (payment after shipment or after receipt).
2. The operation process of T/T:
(1) Receive orders from foreign customers
(2) Make proforma invoices to foreign customers, and foreign customers will sign back
(3) Do production leaflets for domestic customers, and domestic customers sign back
(4) Ask foreign customers to return the mark, color map, and barcode, and send the mark, color map, and barcode to domestic customers.
(5) Follow up with domestic customers for production
(6) When the departure date is about 10 days, ask the foreign customer's freight forwarder to request the standard format of the booking form, fill it out as required, and then pass the shipping company to book the space.
(7) The shipping company announced the official S/O
(8) Generally, their own inspectors go to the supplier's factory to inspect the goods (if the customer has an inspection representative in the mainland, they generally ask the supplier to drag the goods back to the company, and then let the customer's mainland inspection representative inspect the goods)
(9) (Send the S/O to the towing shop (indicate the time, location, time, contact number, etc. of the towing cabinet in front of the S/O to go to the towing cabinet)
(10) Make the content of the customs declaration, that is, "FAXMESSAGE", and ask the trailer company for the address of the customs broker, so as to facilitate the foreign trade company to send a full set of documents (classify as much as possible, the purpose is to reduce the verification form)
(11) Indicate the address of the customs broker on "FAXMESSAGE", and then pass the "FAXMESSAGE" to the foreign trade company (the foreign trade company will pass the customs declaration information to the customs broker), and at the same time, give the manufacturer a "loading notice"
(12) After loading the container, fill in the container number, seal number and other information, (for the goods that need to be fumigated, fill in the fumigation format) and then pass it to the customs broker for customs declaration
(13) Make a FORMA and pass the FORMA to the foreign trade company
(14) Send the shipping notice to the customer to return the customs order, plus the application form for issuing a special VAT invoice, and hand it to the finance (calculated by the real-time exchange rate)
(15) Make the bill of lading supplement and pass it to the shipping company
(16) The foreign trade company counter-informed the official FORMA
(17) Prepare shipping notice, certificate of origin (FORMA), bill of lading, invoice, and packing list, and send them to foreign customers together to ask foreign customers to pay
(18) Submit the copy of the bill of lading and DEBITNOTE (water bill) to the finance. After the finance has paid the DEBITNOTE fee, the shipping company will release the original bill of lading, and I will send the above original documents directly to the foreign customer so that the foreign customer can pick up the goods.
1. L/C (Letter of Credit)
Letter of credit is currently the most commonly used payment method for international trade, and everyone who does foreign trade will come into contact with it sooner or later. For many people, when it comes to letters of credit, they think of a daunting book full of jargon. In fact, the letter of credit can be said to be an S/C guaranteed by the bank to pay. As long as you follow the items of this contract one by one, you must pay the money to you by providing the corresponding documents to the bank. So it should be said that the letter of credit is theoretically a very safe payment method. Once the letter of credit is issued, it is real money. Because of this, a reliable letter of credit can even be used as collateral to get a bank loan to facilitate the seller's capital turnover, that is, a "letter of credit package loan". But in practice, letters of credit are sometimes not so safe. The reason is that there may be soft clauses that are difficult to achieve in the letter of credit, resulting in artificial discrepancies.
