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.

It will cause serious obstacles. China's foreign exchange controls are extremely strict. If the remittance note and the remitter do not match our declared contract, the bank will reject the transaction (Pending). We will need to spend several days submitting additional explanations to the foreign exchange authority, which will inevitably delay the shipping schedule.

Chinese passenger cars produced after 2005 have fully transitioned to asbestos-free brake pads, clutch plates, and gaskets. However, for export to countries with strict regulations, buyers must pay for sampling and testing by a NATA-accredited laboratory before shipment, and obtain an asbestos-free certificate.