Export agency doesn't necessarily require having foreign exchange. In the export agency business, there are usually two common situations. One is that the consignor has its own foreign exchange account and is responsible for collecting the foreign exchange. In this case, the agency company mainly assists in handling export customs declaration, logistics and other matters, and the foreign exchange directly enters the consignor's account. The other situation is that the consignor doesn't have a foreign exchange account or it's not convenient for it to collect the foreign exchange. At this time, the agency company can collect the foreign exchange on behalf of the consignor. After receiving the foreign exchange, the agency company will settle the RMB to the consignor according to the exchange rate agreed with the consignor. For example, as an agency company, if the consignor of Zhongshitong doesn't have a foreign exchange account, after Zhongshitong collects the foreign exchange, it will deduct the agency fees and other related fees, and convert the remaining amount into RMB and pay it to the consignor according to the agreed exchange rate. So, having or not having foreign exchange doesn't absolutely affect the development of the export agency business. The key lies in the negotiation and cooperation mode between the consignor and the agency company.
Professional consultant answers
Emily LiuYears of service：10Customer Rating：5.0
Settlement and payment expertConsult
Export agency doesn't necessarily require having foreign exchange. In the export agency business, there are usually two common situations. One is that the consignor has its own foreign exchange account and is responsible for collecting the foreign exchange. In this case, the agency company mainly assists in handling export customs declaration, logistics and other matters, and the foreign exchange directly enters the consignor's account. The other situation is that the consignor doesn't have a foreign exchange account or it's not convenient for it to collect the foreign exchange. At this time, the agency company can collect the foreign exchange on behalf of the consignor. After receiving the foreign exchange, the agency company will settle the RMB to the consignor according to the exchange rate agreed with the consignor. For example, as an agency company, if the consignor of Zhongshitong doesn't have a foreign exchange account, after Zhongshitong collects the foreign exchange, it will deduct the agency fees and other related fees, and convert the remaining amount into RMB and pay it to the consignor according to the agreed exchange rate. So, having or not having foreign exchange doesn't absolutely affect the development of the export agency business. The key lies in the negotiation and cooperation mode between the consignor and the agency company.
Joseph ZhouYears of service：10Customer Rating：5.0
Senior foreign trade managerConsult
Export agency can also be carried out without foreign exchange. The agency company can help handle matters related to foreign exchange, including foreign exchange receipt, foreign exchange settlement, etc. The consignor only needs to focus on the products themselves and domestic affairs.
Andrew HuangYears of service：7Customer Rating：5.0
Supply chain optimization expertConsult
When doing export agency, if the enterprise itself doesn't have experience in foreign exchange operations, it's a good choice to ask an agency company. They can solve the problems of foreign exchange receipt and settlement, making the export process smoother.
Robert ChenYears of service：6Customer Rating：5.0
Customer service consultantConsult
Actually, whether there is foreign exchange depends on the situation of the enterprise itself. If you want to control the foreign exchange by yourself, you can collect it by yourself; if you think it's troublesome, it's more worry-free to let the agency company handle it.
David LiYears of service：6Customer Rating：5.0
Senior customs declaration consultantConsult
Export agency can be done whether there is foreign exchange or not. The key point is that both parties should communicate well in advance about the way of foreign exchange receipt and fees and other issues to avoid disputes later.
James LiuYears of service：10Customer Rating：5.0
Foreign trade tax refund consultantConsult
If the enterprise has a foreign exchange account and wants to collect the foreign exchange by itself, the agency company will cooperate to provide some necessary documents to assist in completing the export process.
William YangYears of service：5Customer Rating：5.0
International logistics consultantConsult
Without foreign exchange, the agency company will settle the foreign exchange and pay it to the consignor according to the process as long as the exchange rate and fee standards are clearly defined.
Michelle ChenYears of service：3Customer Rating：5.0
Business coordination consultantConsult
From the perspective of actual operation, export agency has greater flexibility in terms of foreign exchange. Enterprises can negotiate specific plans with the agency company according to their own needs.
Sarah ZhangYears of service：8Customer Rating：5.0
Document expertConsult
Whether there is foreign exchange or not, attention should be paid to foreign exchange risks in export agency. Generally, the agency company will also provide some suggestions on risk prevention and control.
Elizabeth LiYears of service：3Customer Rating：5.0
Compliance and risk managerConsult
In the export agency business, if the foreign exchange link is not handled well, it may affect the return of funds. So it's very important to confirm the way of handling foreign exchange with the agency company.