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.

The catalytic converter contains precious metals, making it a target for theft. During chassis inspection, we check if the welding points of the catalytic converter are in their original state. Once verified, the vehicle will be sealed after being handed over to port logistics to prevent disassembly and resale.