In international trade, companies sometimes choose to entrustImport agentThis approach simplifies operational processes, reduces risks and ensures compliance. This article details the specific operational steps, fees, accounting methods and the legal documents involved for enterprises entrusting import agents to replace payments and issuing credit cards.

A. Process of entrusting import agents

Choosing the Right Import Agent

Choosing a reputable and experienced import agent is crucial.The agent must have the following qualifications:

(1) Import and export business rights
Wealth of international trade experience
Good cooperation with major banks

b) Signing an Agreement

A detailed agency agreement must be signed between the enterprise and the importing agent.The contents of the agreement shall include but are not limited to:

(1) Rights and obligations of both parties
(2) Costs and methods of payment
3) Failure of liability
4) Modes of Dispute Resolution

Application for Opening Credit Certificate

Companies must provide the following information to importing agents:

Import Contracts (Purchase Contracts)
Commercial Invoice (Commercial Invoice)
The Packing List (Packing List)
Import License (if applicable)
(5) Letter of Credit Application Form

The agent applies to the bank to open a credit card

After the agency receives the information of the company, it will apply to the bank on behalf of the company to open a credit card. The bank will review the application and charge a certain fee for the proof process.

Credit certificate opening and notification

After the bank audit is passed, the credit card is opened and the bank of the exporter is notified.After the bank of the exporter receives the credit card, the exporter is notified that the shipment is ready.

Payment by the agent

The agent pays the shipment to the exporter in accordance with the terms of the credit card. The company needs to pay the amount of the shipment to the agent, usually including the shipment and banking fees.

II. Costs and methods of payment

1 Proof of Procedure Costs

A bank charges a certificate fee of 0.15% of the amount of the credit card (specific charges vary depending on the bank).For example, if the amount of the credit card is $1 million, the certificate fee is $1 million × 0.15% = $1,500.

2 Agent service fees

The agent charges an agent service fee, part of which is paid by the agent issuing a VAT-specific invoice to the company.

3 Methods of Payment

The company must pay the following fees to the agent:

(1) The amount of peoples money
2) Proof of Procedure Costs
3) Agent service fees

c) Methods of accounting

1 Part of money

Peoples currency funds paid by enterprises are accounted for by double-rise import goods tariff declarations, specifically including:

(1) Import goods declaration form
(2) Customs import payment documents (tariff value added tax part)

Part of Procedure Costs

The proof-of-process fee paid by the enterprise can be used as a bank accounting fee, specific proofs include: bank proof-of-process fee invoice

Part of agent service fee

For the agency service fee paid by the enterprise, the agent must issue a special VAT invoice as an accounting credential.

Legal documents and notices

1 The Agreement

When signing an agent agreement, the following must be clarified:

(1) Expenses of agents
(2) Methods of payment
3) Failure of liability
(4) Dispute Resolution Mechanisms

2 Credit Card Terms

The terms of the credit card must be consistent with the import contract to ensure there are no omissions or errors. Enterprises should carefully check the content of the credit card to avoid payment disputes due to non-compliance with the terms.

Legal risks

Companies should ensure the legitimate qualifications and credibility of agents and avoid legal risks caused by improper actions of agents.In addition, companies should be familiar with relevant laws and regulations to ensure compliance with operations.

Management of Contracts

Enterprises should properly store all relevant contracts, invoices, customs statements, payment documents and other documents to ensure that complete information can be provided for verification and review when necessary.

Trusting an importing agent to make exchange payments and issuing credit cards can effectively simplify the international trade operations process of the enterprise. However, the enterprise must be careful when choosing an agent to ensure that it has compliance qualifications and good reputation. At the same time, the enterprise should be familiar with the relevant operating processes and costs, ensure that it is standardized and accurate in terms of contract management and accounting. Through reasonable operation and management, the enterprise can conduct international trade smoothly, reduce risk and increase efficiency.