Under normal circumstances, there are two common payment methods. One is to pay the payment for the goods to the import agency company, and the agency company will then pay the foreign supplier. The advantage of this approach is that the agency company can help control the capital flow, review relevant documents, etc., reducing risks. For example, after receiving your payment for the goods, Zhongshitong will pay the foreign party in a standardized manner in accordance with the contract and relevant procedures.
The other is to pay the foreign supplier directly with the assistance of the agency company. However, this method generally requires you to have a certain understanding of the international trade payment process and risks, and ensure the compliance of the payment. Common payment methods include telegraphic transfer, letter of credit, etc. Telegraphic transfer is relatively simple and fast, but the risk is that if the information is incorrect, the funds may be lost, etc.; a letter of credit is relatively safe as it is guaranteed by bank credit, but the procedures are more cumbersome and the fees are higher. In short, it is necessary to select an appropriate payment method according to the specific situation and needs.
Professional consultant answers
Robert ChenYears of service：6Customer Rating：5.0
Customer service consultantConsult
Under normal circumstances, there are two common payment methods. One is to pay the payment for the goods to the import agency company, and the agency company will then pay the foreign supplier. The advantage of this approach is that the agency company can help control the capital flow, review relevant documents, etc., reducing risks. For example, after receiving your payment for the goods, Zhongshitong will pay the foreign party in a standardized manner in accordance with the contract and relevant procedures.
The other is to pay the foreign supplier directly with the assistance of the agency company. However, this method generally requires you to have a certain understanding of the international trade payment process and risks, and ensure the compliance of the payment. Common payment methods include telegraphic transfer, letter of credit, etc. Telegraphic transfer is relatively simple and fast, but the risk is that if the information is incorrect, the funds may be lost, etc.; a letter of credit is relatively safe as it is guaranteed by bank credit, but the procedures are more cumbersome and the fees are higher. In short, it is necessary to select an appropriate payment method according to the specific situation and needs.
Sarah ZhangYears of service：8Customer Rating：5.0
Document expertConsult
You can communicate well with the import agency company first and pay according to the method they suggest. Generally, it is more worry-free to pay the agency company. They are professional and can handle the subsequent payment to the foreign supplier well.
Joseph ZhouYears of service：10Customer Rating：5.0
Senior foreign trade managerConsult
If you trust the agency company relatively, just pay them. They will transfer the payment for the goods to the foreign side according to the process. If you are not too reassured, you can also pay the foreign supplier directly, but you need to pay more attention to various payment requirements.
Michelle ChenYears of service：3Customer Rating：5.0
Business coordination consultantConsult
It is quite common to choose telegraphic transfer or letter of credit as the payment method. Telegraphic transfer is fast, and a letter of credit is stable. If you pay the agency company, just follow their arrangements. It saves a lot of trouble.
Andrew HuangYears of service：7Customer Rating：5.0
Supply chain optimization expertConsult
I think it is necessary to understand the reputation of the agency company clearly first. If it is reliable, it is okay to give the payment for the goods to them and let them handle it. Otherwise, you can pay the foreign supplier directly with a little more effort. Be careful when making the payment.