Textile And Garment Industry: Risk And Strategy Of Export Earnings Collection

Foreign market has always been China. Textile and clothing However, the international trade environment has been relatively severe recently. Many foreign trade enterprises have suffered the phenomenon of breach of contract and so on. The risk of foreign exchange faced by textile enterprises has become more and more prominent.

Subject to " European debt crisis In the first half of this year, the number of cases reported by European buyers accounted for 40% of the total number of reported cases in the world, and the risk scale exceeded 56 million US dollars, an increase of 72% in the first half year.

Zhejiang letter insurance has received 644 cases of reported losses, amounting to 145 million US dollars, the number and amount of cases increased by 25% and 41% respectively. A textile enterprise in Shaoxing County signed a purchase and sale contract with a company in Peru. It stipulated that batches of gauze rolls from a company in Peru should be supplied in batches, with a total price of US $more than 90 thousand. The payment terms were the prepayment of 10% of the total price. The balance 90% was paid after the bill of lading was scanned. However, the other side has been behind the arrears of nearly $20 thousand, and repeatedly urged no fruit.

Textile and garment enterprises Export trade The main risks are:

1, the specifications and date of shipment do not conform to the contract stipulations, resulting in the risk of foreign exchange collection.

2, the poor quality of the documents causes the risk of foreign exchange collection.

3. Risks arising from the trap clause stipulated in the letter of credit.

4, using D/P, D/A forward payment or consignment risk.

5, the use of information technology to implement the new reporting fraud caused by fraud, in the course of its communication, was wrongfully intervened by malicious elements to cheat the money.

Strategies to avoid risks:

1, enterprises need to carefully check the reputation of foreign buyers and the recent development of enterprises, and choose to export. At the same time, they clearly indicate the solutions to problems if they are in the contract, so that they will not fall into a desperate situation when they are subjected to the risk of foreign exchange collection.

2, it is necessary for the chamber of Commerce to give special guidance to these businesses on risk prevention, commercial mediation and chamber of Commerce compliance, so that they can avoid risks in a timely manner and minimize their losses. At the same time, we should establish a file of foreign businessmen, and label some businesses with bad reputation to prevent more businesses from losing.

3, for the government to take some measures to protect the interests of these businesses, and in the face of the risk of foreign exchange, the government can make use of exchanges and cooperation between governments to safeguard the interests of these foreign trade businesses.

4, for electronic risk experts, it is suggested that export enterprises should ensure the information security of communication tools, and adopt multiple means of communication (including, but not limited to, e-mail, fax, telephone, etc.) to make multiple confirmations on important details such as shipment and payment; avoid direct links to the links in the mail; try to avoid any direct response to the e-mail links; if the reply addresses are different from the sender, they should be treated with caution; they should be cautious about asking for any mail about their privacy, such as account names, passwords, bank accounts, etc.; do not use simple passwords, such as all zeroes, birthdays, etc.; try not to use the same password, different accounts, and different passwords. The most important thing is to make a phone call or send a fax before the remittance. The two sides will confirm it again.