A: What is Letter of Credit Payment
G: The buyer applies to the bank to issue a credit document for payment to the supplier, replacing commercial credit with bank credit as the settlement method. The drawback is the complex process and risk of payment rejection.
A: What is a Foreign Trade Independent Website
B: A corporate website showcasing products with an independent domain name and server, free from third-party platform restrictions.
A: What is Customs Clearance
C: The process where foreign trade goods undergo customs declaration, inspection, tax payment, and other formalities upon import/export, approved by customs before release.
A: What is MOQ
D: The minimum order quantity a buyer must purchase in a single transaction.
A: ODM
E: ODM refers to suppliers designing and producing products based on buyer requirements.
A: OEM
F: OEM involves buyers providing product designs/specifications, with suppliers manufacturing accordingly.
A: FOB (Free On Board)
H: The seller loads goods onto the buyer's designated vessel at the specified port, bearing all costs/risks until onboard; the buyer handles subsequent freight, insurance, and risks.
A: CIF (Cost, Insurance & Freight)
I: The seller arranges shipment to the destination port, covering freight/insurance; risk transfers to the buyer once goods are onboard.
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