Generally, the following is the process for collecting the proceeds from the goods exported on behalf of others. First, clarify the method of collection. The common ones are T/T (Telegraphic Transfer), L/C (Letter of Credit), etc. If T/T is chosen, the foreign customers will directly transfer the payment to the account of the agent company; for L/C, it is necessary to operate according to the terms of the letter of credit to ensure that the documents are in conformity.
Secondly, after receiving the foreign exchange, the agent company will handle it according to the agency agreement signed with your company. Generally, after deducting the agency fees and other related fees, it will settle the remaining amount with your company. During this period, your company should promptly provide legal and valid settlement vouchers.
Furthermore, attention should be paid to the time nodes of collecting the proceeds to avoid the impact on the export tax rebate due to overdue collection of proceeds. At the same time, during the process of collecting the proceeds, it is necessary to ensure the legality and compliance of the source of funds and cooperate with the agent company to do a good job in foreign exchange declaration and other work.
Professional consultant answers
Sarah ZhangYears of service：8Customer Rating：5.0
Document expertConsult
Generally, the following is the process for collecting the proceeds from the goods exported on behalf of others. First, clarify the method of collection. The common ones are T/T (Telegraphic Transfer), L/C (Letter of Credit), etc. If T/T is chosen, the foreign customers will directly transfer the payment to the account of the agent company; for L/C, it is necessary to operate according to the terms of the letter of credit to ensure that the documents are in conformity.
Secondly, after receiving the foreign exchange, the agent company will handle it according to the agency agreement signed with your company. Generally, after deducting the agency fees and other related fees, it will settle the remaining amount with your company. During this period, your company should promptly provide legal and valid settlement vouchers.
Furthermore, attention should be paid to the time nodes of collecting the proceeds to avoid the impact on the export tax rebate due to overdue collection of proceeds. At the same time, during the process of collecting the proceeds, it is necessary to ensure the legality and compliance of the source of funds and cooperate with the agent company to do a good job in foreign exchange declaration and other work.
Andrew HuangYears of service：7Customer Rating：5.0
Supply chain optimization expertConsult
Before collecting the proceeds, you should confirm the account information of the agent with them and provide it to the foreign customers. Don't make mistakes. And remember to reconcile the accounts in time after collecting the proceeds to check if the amount is correct.
Michelle ChenYears of service：3Customer Rating：5.0
Business coordination consultantConsult
If you collect the proceeds by using a letter of credit, you must carefully review the terms. If there are any problems, let the agent communicate with the customer in time to make modifications. Otherwise, it will be troublesome if the documents are not in conformity at that time.
Jennifer WangYears of service：4Customer Rating：5.0
Market development consultantConsult
When signing the agreement with the agent, clearly write down the time of collecting the proceeds, handling fees, etc. to avoid disputes later. Complete the tax rebate process as soon as possible after collecting the proceeds.
Amanda YangYears of service：3Customer Rating：5.0
Cost control consultantConsult
Pay attention to the fluctuations of the exchange rate and choose the appropriate time to settle the foreign exchange so that you can earn more. When the agent settles the account with you after collecting the proceeds, you should check if the deduction of fees is reasonable.
David LiYears of service：6Customer Rating：5.0
Senior customs declaration consultantConsult
During the process of collecting the proceeds, keep all the relevant documents, such as the customs declaration form, a copy of the bill of lading, etc., for subsequent inspection.
Elizabeth LiYears of service：3Customer Rating：5.0
Compliance and risk managerConsult
After the foreign customers make the payment, let the agent check the receipt in time. If the payment has not arrived in the account for a long time, quickly check the reason together.
Joseph ZhouYears of service：10Customer Rating：5.0
Senior foreign trade managerConsult
After completing the collection of the proceeds, complete the formalities such as foreign exchange verification according to the regulations. Don't miss any steps, otherwise it may affect the subsequent business.
Robert ChenYears of service：6Customer Rating：5.0
Customer service consultantConsult
Regularly communicate with the agent about the progress of collecting the proceeds so that you have a clear idea in your mind. If you encounter any problems, you can solve them in time.