Due to foreign exchange controls, many?Foreign trade?enterprises exports?Forex Settlement?face difficulties. Foreign exchange collection services can effectively solve this problem, but some people are still not very familiar with foreign exchange collection services. Today, we will introduce the service process of foreign exchange collection.

Foreign exchange collection refers to the process where units with foreign currency accounts provide support for customers foreign currency receipts and foreign currency settlements. In foreign trade, it usually refers to agents helping SOHO sellers of foreign trade enterprises or enterprises without?Import/export?the right to collect foreign exchange payments on their behalf, and this?Foreign exchange settlement?Equivalent to the cash on delivery service of domestic logistics companies. This is what is known as Cash on Delivery (COD).

Foreign exchange collection business process:

Both parties sign a market procurement foreign trade service contract.

Our company designates an account to collect export payments on your behalf, converts foreign currency to RMB, and transfers it to your personal or public account.

The client must ensure that the amount transferred to our account is legitimate market purchase funds. We refuse to accept any illegal foreign exchange. If the collection does not comply with national regulations and the account is frozen, the client bears the loss.

To ensure fund security, we sign a contract with you. Foreign exchange collection services will only be provided after mutual agreement is reached.

After the contract is signed, the client will be provided with a legitimate domestic account to verify the payment.

After the foreign trade funds are transferred to the designated account and bank notification is received, payment will be made at the agreed exchange rate by the deadline. The date will be mutually agreed upon.

Upon foreign exchange collection, settlement is based on the received foreign trade payment. No additional costs arising from other reasons or exchange rate fluctuations will be borne during the collection process.

After the foreign currency payment is completed, the agency fee will be deducted and remitted in RMB to the designated personal or public account.

After confirming the foreign currency payment, payment and remittance will be processed before 17: 00 on the same day at the exchange rate provided by the Bank of China.

The method of collecting foreign exchange through official channels is recognized by the state and protected by law after signing the relevant agency contract. However, if an non-compliant company is chosen, there is a high risk of account freezing. Therefore, it is essential to select a legitimate, reliable, and trustworthy foreign trade service company when seeking an agency.