Under CIF terms, the beneficiary of the insurance policy will be endorsed to the buyer. Once the claim is successful, the insurance company's foreign currency compensation will be directly deposited into the buyer's designated overseas company or personal account.

Demurrage is a penalty charged by the port or shipping company for not clearing and picking up goods on time after they arrive. To avoid it: send customs documents in advance and ensure the recipient is prepared with duties and import qualifications.

It is extremely dangerous and usually not allowed. This can easily trigger the anti-money laundering (AML) controls of China's foreign exchange administration. The remittance account title must closely match the contract buyer and the bill of lading consignee. If payment on behalf is necessary, a legally binding "Tripartite Payment Agreement" must be provided in advance and undergo compliance review by our finance department.