
AgencyAgency export,What is the basic process of foreign exchange settlement?
The standardized agency export settlement process consists of five key steps:
- The contract signing phase: Clearly define the responsibility for foreign exchange collection in the agency agreement, with special attention to stipulating the method for bearing exchange rate fluctuation risks.
- Document preparation stage: The customs declaration form, commercial invoice, and shipping documents must be consistent with the agency agreement.
- Foreign exchange receipt processing: The agency company must complete the declaration in the foreign exchange monitoring system within 5 working days after receiving the foreign exchange.
- Foreign Exchange Settlement Operation Process: Depending on the choice of spot/forward foreign exchange settlement, corresponding proof of trade authenticity must be provided.
- Fund transfer stage: The net amount after deducting the agency service fee must be settled through a corporate-to-corporate account.
II. What are the potential risks associated with entrusted agency foreign exchange settlement?
Three types of risks requiring special attention under the 2025 foreign exchange regulatory environment:
- Financial security risks
- Cases of fund misappropriation by agency companies have increased by 12% in recent years (Central Bank 2024 data).
- It is recommended to choose a Class A agency enterprise that pays foreign exchange margin deposits.
- Compliance operation risks
- Cross-border RMB settlement requires the provision of a complete trade background chain.
- Transactions exceeding $500,000 require prior reporting.
- Exchange Rate Fluctuation Risk
- It is recommended to use hedging tools to mitigate risks.
- The agency agreement shall clearly specify the option for the timing of foreign exchange settlement.
III. How are the service charges calculated for agency export settlement?
The standard industry fees for 2025 consist of three parts:
- Basic service fee: Typically 0.15%-0.3% of the foreign exchange settlement amount.
- Additional service fees: including document review (200-500 RMB per document), expedited processing, etc.
- Cost of Funds: Forward exchange settlement requires bearing the capital occupancy fee charged by the agency company.
Case of a garment enterprise: Foreign exchange settlement of USD 1 million, Agent fee = 1 million × 0.2% + document fee 300 yuan + capital cost 1500 yuan = Total approximately 6500 yuan
IV. How long does it take to complete the foreign exchange settlement after the funds are received?
The settlement time is influenced by three factors:
- Source countries of foreign exchange: Remittances from Europe and America are typically completed within 3 working days, while those from the Middle East require 5-7 days.
- Document completeness: Missing documents such as the certificate of origin will cause a delay of 2-3 days.
- Bank processing capability: Some commercial banks can achieve T+0 real-time foreign exchange settlement.
According to a 2024 sampling survey by the State Administration of Foreign Exchange, 78% of agency foreign exchange settlement transactions were completed within 72 hours after receipt of funds.
5. How to handle tax refund and tax treatment for export through an agent?
The latest operational requirements to be implemented in 2025:
- The tax refund declaration must be filed by the agency as the principal entity.
- The manufacturing enterprise is required to provide a copy of the special VAT invoice.
- The foreign exchange receipt voucher must indicate the agency relationship code (new regulation requirement).
- Cross-border payment service fees are subject to a 6% value-added tax withholding.
VI. How to Choose a Reliable Export Agency Company?
It is recommended to focus on four key dimensions:
- Supervisory Qualifications: Check the classification level of the State Administration of Foreign Exchange (Category A is the best).
- : Registered capital and risk reserve scale: The registered capital shall not be less than 5 million yuan, and foreign exchange margin shall be paid.
- Wind control system: Request to review compliance operation records for the past 2 years.
- Capacity of service: Confirm whether multi-currency settlement and electronic document processing are supported.
An electronic components company selected its agency firms based on the above criteria, achieving a 40% improvement in foreign exchange collection efficiency and saving over 120,000 yuan in annual financial costs.