The specific process varies depending on the trade term (FOB/CIF) chosen by importer. The following charts show the major steps of import.

FOB Process

CIF Process

How to ensure your financial security?

There are 3 optional settlement methods for financial security.

1. Down payment security. L/G (Letter of Guarantee) will provide security for advance payment if exporter doesn’t fulfil its obligations.

2. Balance payment security. D/P (Documents against Payment) is an effective way out of the dilemma of delivery first or payment first.

3. L/C (Letter of Credit) is another way to protect both importers and exporters by the foreign buyer’s bank to pay once the exporter ships the goods and presents the required documentation to the exporter’s bank as proof.

Notes:

1. The entire import process may vary depending on the delivery location, transportation method and trade term.

2. Vehicles may need certification according to local regulations. We can provide local vehicle certification in specific countries if you need further assistance.

Import Process

Financial Security