In order to reduce your risk in international trade, Fengya in collaboration with China Export & Credit Insurance Corporation (Sinosure) renders credit investigation service, help you understand the credit background of buyer (and the available credit line of buyer), avoid trading risk, and accept order at ease.
Q: Under which circumstance should I investigate the buyer’s credit standing?
A: You are advised to investigate the buyer’s credit standing if:
① New customer places an order for the first time and makes payment in the form of sales on account;
② Old customer places an order, but the payment period is long (sales on account);
③ In case of other circumstances where there is a payment period and there is a concern about the risk of money collection.
Q: What information should I provide to apply for the credit investigation on buyer?
A: Buyer’s company name, company address, contact person, telephone number, e-mail, expected annual transaction volume, and the order signed with buyer.
Q: How long does it take to issue the credit investigation report?
① Prior to your application for the investigation, if Sinosure, authorized by other enterprises in China Mainland, has investigated the credit standing of this overseas buyer, and has issued a report or has approved the credit line, the credit investigation report will be generally issued within 7 business days.
②Prior to your application for the investigation, if Sinosure has not investigated the credit standing of this overseas buyer, or although the investigation has been conducted, the investigation report has expired or the credit line has expired, then another investigation is required, the credit investigation report will be generally issued within 15 business days.
Q: How much need I pay for the credit investigation on buyer?
A: RMB 600-800.
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