Don’t know much about the K1 Form? Don’t know where to get your invoice to do your account? Here I’m going to explain it.
First, let’s talk about K1 Form. The use of the K1 Form is to let customs to check the lists of imported goods. The reason is that your import goods maybe mix with other people’s bulk goods and it will be easier to recognize your goods.
But why there are people who write their names on the consignee part? The reason for accounting purposes but you don’t have to do that as long you have professional commercial shipping companies like CIEF to help you. We were able to help to open the invoice using our Exchange System service.
We mentioned just now that we can provide an Invoice Billing, but in what way can we help you with the Invoice? We’ll do it in agent model. What is the Shipping Agent Model? The shipping agent model means that the shipping agent involved in the transaction between the importer and the Chinese supplier. We can simply call it “Shipping Agent”.
The Importer – that is you.
The Shipping Agent – that is our company C.I.E.F.
This means that the importer will make the transaction to the shipping agent. Then, the shipping agent will help you convert the money into RMB and transfer the money to your China suppliers. Then, the supplier will start shipping and the shipping agent will help you to manage the Invoice Billing for you as well.
The Shipping Agent
There are three ways that you can use the shipping agent:
1. The supplier requires making the payment before shipping.
This is the most common solution is that the importer needs to pay in advance the ringgit and SST to the shipping agent. Then, the shipping agent will help you make payment to China’s supplier. After China’s supplier prepares the goods, the shipping agent will ship the goods to the importer, and then will provide invoice billing to importers. In general, the invoice date can set by the requirements, can choose the transaction date or arrival date of goods.
2. Suppliers are willing to ship the goods first and make payment later
This situation is rare. In this case, the suppliers will be shipping the goods first to the importer through the shipping agent, then shipping agent provides the invoice to importers. After that, the importer will arrange the payment a few days later.
3. Set Up China’s Bank Account
After we understand the first two ways, actually can make some changes to make it more flexible. That is set up a China’s bank account and manage it by yourself. Therefore, you can easily make payments to your suppliers.
First – you can transfer the money to the shipping agent.
Second – Then, the shipping agent will help you convert to RMB and transfer the money to your China’s bank account.
Third – Lastly, you can easily make payments to different suppliers through China’s bank account.
Want to learn more about how to place orders and make payments to China’s Suppliers?
Here I’m going to explain it simply.
Step 1 – Place an order on the online shopping platform (ex. 1688).
Step 2 – Make transaction to our company CIEF in RM, then our company will help you convert to RMB, and then make payment to your China’s Suppliers.
Step 3 – Upon receipt of payment, China’s suppliers will start shipping the goods to our warehouse.
Step 4 – Our company will help you to ship the goods into Malaysia and deliver the goods to you.
You use our Exchange Rate System, then you can complete the steps above !!! Please click to understand more – Exchange System
Before that, if you haven’t registered an account. Please click – Register Account You can directly use our services in the future.💁