Export agentWhat specific steps are included in the foreign exchange collection process?

The complete export agency foreign exchange collection process can be divided into 7 key stages:

• The contract signing phase
  • clearlyTrade terms(FOB/CIF, etc.)
  • Agreed payment terms (TT/LC/DP, etc.)
  • Confirm the ownership of the foreign exchange account.
• Document preparation stage
  • The agency prepares the commercial invoice and packing list.
  • Handling qualification documents such as certificates of origin and test reports.
• Foreign exchange declaration stage
  • Report trade credit through the State Administration of Foreign Exchange system.
  • Starting from 2025, new requirements for cross-border RMB settlement filing will be added.
• Fund arrival verification
  • Verify the consistency between the remittance route and the contract.
  • Confirm the cargo information in the SWIFT message.
• Foreign exchange settlement operation stage
  • Lock the foreign exchange settlement price based on the real-time exchange rate.
  • Handling cross-border RMB direct settlement (2025 new policy)
• Tax processing stage
  • Issue a special VAT invoice.
  • HandledExport tax refundrecorded
• Exception handling mechanism
  • Establish a foreign exchange receipt alert system.
  • Establish a dispute payment mediation channel

How much does the collection period vary across different settlement methods?

According to the latest banking data for 2025:

• Telegraphic Transfer (TT): 3-7 business days, please note that some countries have foreign exchange controls.
• Letter of Credit (LC): 15-25 working days, including document review period and acceptance period.
• Documents against Acceptance (DA): 30-90 days, subject to evaluation of buyer's credit risk
• Digital currency settlement: T+1 settlement, pilot coverage of 53 countries by 2025

How to Prevent Financial Risks in the Process of Receiving Payments?

It is recommended to focus on controlling three key processes:

• Verification of the authenticity of trade
  • Verify the "three-document consistency" of the bill of lading, customs declaration, and foreign exchange receipt amount.
  • Cross-verification through the Single Window of the General Administration of Customs
• Country Risk Early Warning
  • Refer to Sinosure's Country Risk Rating for 2025.
  • Monitor the dynamic updates of the United Nations sanctions list.
• Exchange rate fluctuation response
  • Use forward exchange settlement to lock in exchange rates (minimum lock-in period of 180 days).
  • Adopt multi-currency settlement to share risks.

What service details should be considered when selecting an export agent?

The 5 Essential Capabilities a High-Quality Proxy Should Possess:

• Electronic system for real-time foreign exchange payment status inquiry
• Experience in handling special requirements for Field 59 in SWIFT messages
• The capability to handle CRS (Common Reporting Standard) tax audits
• Be familiar with the latest foreign exchange facilitation policies in the free trade zone.
• Provide a 24-hour emergency response mechanism.

What are the new changes in foreign exchange management in 2025?

• The single transaction limit for cross-border e-commerce foreign exchange receipts has been raised to USD 200,000.
• Pilot enterprises can independently choose the settlement currency.
• Establish a fast-track "white list" for foreign exchange
• Strengthen anti-money laundering monitoring of digital currencies