Policy Solutions of Overseas Purchase Agent Record on The Market Procurement Trade and Opening Account and Settling Account
I.What`s the main function on policy of overseas purchase agent record and opening account and settling account?
The overseas purchase agent may apply for foreign exchange settlement account and collect and settle by yourself after record is made.
II.What overseas purchase agent does the policy apply to?
The policy applies to those overseas purchase agents who have made temporary lodging registration and engaged in market purchase trade in Yiwu.
III. Why do overseas purchase agents apply for the record?
After an overseas purchase agent applying for record and registration and obtaining Registration Form of Overseas Agent for The Market Procurement Trade(hereinafter referred to as Record Registration), the overseas purchase agent may open an individual foreign exchange settlement account by applying for relevant banks. Once the account is opened successfully, the purchase agent may, through this account, settle payment for goods on market purchase trade and the limit of $50,000.00 dollars for per person per year will be lifted accordingly, addressing the needs of your market purchase trade settlement.
At present, a number of overseas purchase agents are engaging in market purchase trade in Yiwu, generally they ask export agents to make export declaration, in which the strong demands exist on settlement of the payment. Where the overseas purchase agents meeting the criteria obtains the Registration Form, the banks concerned may open a foreign exchange settlement account for them and conduct settlement business of foreign exchange after approved by Administration of Foreign Exchange.
IV. What`s the whole process of overseas purchase agent record and opening account and settling account?
1.To obtain the Registration Form via application of overseas purchase agent record from the Commercial Department concerned.
2.To apply for the relevant bank to open individual foreign currency settlement account for overseas purchasers.
3.To apply for the bank for settlement of exchange.
V. What`s condition needed for the record?
It shall have the following conditions:
1.Those who have conducted overseas individual temporary lodging registration at Public Security Authorities concerned;
2. Those who have held Foreign Citizen Card issued by the relevant departments concerned.
3. At least 18 years of age.
VI. How to apply for the record?
The record of overseas purchase agents is jointly handled by the Commercial Department and Market Supervision & Management Department.
First step: Overseas purchase agents may log in Yiwu International Trade Comprehensive Information Service Platform(Market Purchase Trade Network Information Platform:http://www.ywtrade.gov.cn), click the Floating Window of “Overseas Purchase Agent Record” on website homepage or enter the information page of overseas purchase agents through “business platform -- main record/registration -- overseas purchase agents” on the website homepage,truthfully fill in such basic information as name, gender, date of birth, nationality, passport number,current address, social network account and submit by clicking. Where the name,gender,date of birth,nationality,passport number and other basic information fail to pass the check of “user authentification, the record information would not be submitted. The Registration Form will be printed by the accepting officer at window of Commercial Department concerned after submission of the record information. The overseas purchase agent needs not to print it.
Second step: Overseas purchase agent in person takes the Registration Form, passport, Foreign Citizen Card with him/her to apply for the record.
Third step: After Commercial Department concerned accepts the relevant filling materials, for those who are in conformity with record conditions, shall sign their names on the Registration Form. The Commercial Department concerned will issue them this Registration Form stamped and signed jointly by Yiwu Bureau of Commerce and Yiwu Market Supervision & Management Bureau.
VII. How to conduct modification of information in Registration Form
Once such information as the passport, name, nationality, passport number,Foreign Citizen Card, address in Yiwu have changed, he/she shall, in person, take passport, Foreign Citizen Card and other materials with him/her to go the Commercial Department concerned to apply for change procedure. The previous Registration Form will be null and void after completion.
VIII. How to conduct the replacement procedures in case the Registration Form is lost?
Where the Registration Form is lost, he/she may take his/her passport and Foreign Citizen Card with him/her to go Commercial Department concerned for such replacement. The previous Registration Form will be null and void after replacement.
IX. How to log in the Yiwu International Trade Comprehensive Information Service Platform(Market Purchase Trade Network Information Platform)?
Yiwu International Trade Comprehensive Information Service Platform(Market Purchase Trade Network Information Platform) will automatically send the overseas purchase agent the Login ID(i.e. passport number) and the initial password reserved by the overseas purchase agent. The overseas purchase agent enters the login page via “business platform - main loggin - overseas purchase agent” on wibesite homepage and logs in by the way of “account+password”. The password can be changed by overseas purchase agents. Where in the event of the information in the Registration Form has modified due to the change of passport number, the original login ID will remain unchanged.
X. What needs to be presented when applying for settlement account of foreign exchange?
The overseas purchase agent shall present his/her passport, Foreign Citizen Card and other relevant materials required by the bank. Where the purchase conforms to the conditions stipulated by the bank, truthfully complete the application form in accordance with the regulations.
XI. How to conduct the settlement business of foreign exchange after opening of account?
The funds transferred to foreign exchange settlement account of the overseas purchase agent that shall have real and true background for market purchase trade transaction, the formalities for entering an item in an account will be approved by the bank. The purchaser shall take the letter of authorization for agency export agreement, the entrusted export goods corresponding to export declaration information and passport etc. to apply for the settlement of exchange. Where related information submitted by the purchaser is the same as that in the Yiwu International Trade Comprehensive Information Service Platform(Market Purchase Trade Network Information Platform”, the bank permits transaction of the settlement of exchange in accordance with the regulations.
XII. What policies and regulations shall be complied with?
The purchaser shall abide by the policies and regulations related to market purchase trade in addition to the laws and regulations issued by the state: where the overseas purchase agent entrusts other people to export the goods, shall ask the commissioned party to provide the list of goods and ID copy.