Telegraphic Transfer (T/T) is now a relatively common foreign trade payment collection method. Payment is made through bank transfer. The remitting bank, in accordance with the requirements of the remitter and the instructions of the foreign remitting bank, settles a certain amount of money to the payee.
There are four commonly used payment methods in international trade, namely Telegraphic Transfer (T/T), Letter of Credit (L/C), Documents against Payment (D/P), and Documents against Acceptance (D/A).
The license number refers to the number of the import and export goods license issued by the competent department of commerce under the State Council and its authorized issuing agencies. The licenses mentioned here specifically refer to import licenses and export licenses.
3C, officially named China Compulsory Certification, abbreviated as 3C certification. Organization and implementation. For products subject to national compulsory certification, the state issues a unified catalog, determines applicable national standards, technical regulations and implementation procedures uniformly, and establishes unified labeling.
There are a variety of payment methods in foreign trade. The following introduces several common foreign trade payment methods for your reference. Common foreign exchange collection methods include L/C (Letter of Credit), T/T (Telegraphic Transfer), D/P (Documents against Payment), D/A (Documents against Acceptance), O/A (Open Account). Different payment methods carry different risks.
The General Certificate of Origin adopts a nationally unified certificate format, with one original and three copies. The original features light blue watermarks with the Great Wall pattern as a shadow, while the three copies are yellow. The certificate is filled out in English, and there are twelve types of certificates.
For goods exported to Egypt, ACI certification is required. The consignee must first pre-declare the goods in the local system to obtain an ACID number, which must be provided to the shipper. Failure to provide the ACID number will result in the goods being forcibly returned to the port of shipment and fined.
People in foreign trade often hear two professional terms: document customs declaration and purchase declaration. Lets take a look at the two customs declaration methods you need to know in trade.
How many types of letters of credit are there? Classification of letters of credit, how many types of letters of credit are there, and how to distinguish between them. Below is a detailed guide.
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