The work in the post-import stage mainly includes import payment verification, dispute resolution, document filing, domestic sales, etc.
After the importer takes the goods into the warehouse, he should prepare for marketing and import follow-up work.
(I) Verification of import payment
The State Administration of Foreign Exchange has cancelled the verification of foreign exchange receipts and payments for import and export trade, and implemented off-site total volume verification of import and export logistics and capital flows. Under the new system, enterprises do not need to go through verification procedures for foreign exchange receipts and payments, and export receipts do not need to be verified online, and enterprises do not need to frequently go back and forth between the State Administration of Foreign Exchange and banks. As a result, the time for enterprises to receive and pay foreign exchange is shortened, and the capital turnover speed is accelerated. The documents and procedures for banks to handle foreign exchange receipts and payments for enterprises have been greatly simplified, the time for bank counters to handle foreign exchange receipts and settlements has been shortened, and the efficiency and level of bank foreign exchange business services have been greatly improved.
Under the L/C, D/P, D/A and pre-TT settlement methods, the State Administration of Foreign Exchange will compare and verify the import declaration goods and payment data through the total amount; under the post-T/T settlement method, the remittance bank is responsible for reviewing the relevant information (such as customs declaration form) provided by the remittance unit. After the external payment is completed, the bank will automatically cancel it.
(II) Dispute Settlement
In the import business, if there are unexpected events such as contract breach and cargo distress, the importer must also deal with disputes and claims. Disputes include not only breach of import contracts, but also breach of domestic sales contracts.
The resolution methods for dispute settlement usually include negotiation, mediation, arbitration and litigation.
(III) Domestic Sales
After obtaining customer orders, importers sell goods in the country, sign domestic sales contracts and issue sales delivery orders, notify customers to pay, and after confirming receipt of customer payments, issue sales invoices, attach import customs declaration documents (such as customs declaration forms, quarantine certificates, etc.), and arrange logistics companies to transport them to the customer’s designated location. Importers can only make profits after imported goods enter the market for sale and cash conversion, thereby driving capital turnover. Regularly tracking and understanding sales conditions and determining the timeliness of imported goods will help to adjust import strategies in a timely and effective manner.