Can agency export enterprises directly receive foreign exchange?

According to the latest foreign exchange management regulations of 2025,agent export enterprises are required to strictly comply with them."Who exports who"”principle.There are two operational models in practice:

• Principalcollectspaymentdirectly:Overseasclientspaythemanufacturerdirectly
• Agencycompanycollectsonbehalf:Requiressubmittingcompleteagencyagreementstobanksforfiling

A 2023 case of an electronic component exporter having foreign exchange detained due to unregistered agency agreements reminds us: Agency export filing registration with SAFE must be completed in advance.

How do agency companies complete foreign exchange settlement?

The compliant agency export settlement process involves five key steps:

• Signingtripartiteagreements(principal,agent,overseasbuyer)
• Thecustomsdeclarationformindicatesthewords"exportbyproxy".
• Bankdocumentreview:
  • Consistencybetweenproformainvoiceandcustomsdeclarationamounts
  • Validationofagencyagreementeffectiveness
• Foreign exchange declaration within 3 working days after receipt
• Settling RMB at agreed exchange rate

What factors affect settlement time?

The monitoring data for 2025 shows that the average period for settlement of foreign exchange for export through agents is 7-15 working days,and the main influencing factors include:

• Bankcompliancereviewstrictness(40%increasefrom2023)
• Documentcompleteness(30%timespentonmissingdocumentcorrections)
• Exchangeratelockingmechanismselection
• Cross-borderpaymentchannels(recommendedtouseCIPSsystem)

How to handleagency

The ownership of tax refund rights depends on the provisions of the agency agreement.The new regulations in 2025 require the clarification of the following key points:

• VATinvoiceissuancedeadline(within90daysaftergoodsdeparture)
• Taxrefunddocumenthandoverchecklist(blockchainnotarizationrecommended)
• Commonriskpoints:
  • DiscrepancybetweencustomsdeclarationandVATinvoiceproductdescriptions
  • Paymentreceivedamountdeviatesover5%fromdeclaredamount

How to prevent agency settlement risks?

Based on 2020s agency dispute cases,the following risk control measures are recommended:

• Fundsupervisionaccountsetup(recommendSinosuresupervisionsolution)
• Exchangeratefluctuationhedgingmechanism(floatingrangecanbeagreed)
• Three-waymatchingprinciplefordocumentreview:
  • Contractamountvs.customsdeclaration
  • Billofladingdatevs.paymentreceipttime
  • Settlementcurrencyvs.declaredcurrency

Key tax treatment points for agency settlement?

Tax matters requiring special attention:

• Servicefeeinvoiceissuance(6%VATspecialinvoice)
• Foreignexchangegain/losstreatment(recordedasfinancialexpenses)
• Cross-borderpaymentwithholding(wheninvolvingroyaltyfees)
• Thenewrequirementsforfilingelectronictaxpaymentreceiptsin2025

How to select a reliable agency settlement company?

It is recommended to evaluate from five dimensions:

• StateAdministrationofForeignExchangeClassAEnterpriseQualification
• Bankcreditline(recommendednolessthan50millionyuan)
• Historicalsettlementefficiencyrecords
• Riskcompensationmechanism(e.g.exchangeratemarginsystem)
• Digitalsystemintegrationcapability(APIdirectbankconnection)

A clothing export enterprise established aDynamic exchange rate locking mechanism,successfully avoided 3.2% exchange loss from RMB appreciation,indicating: agency export settlement requires professional team for full-process risk management.