What is guarantee deposit system?
Guarantee deposit is one kind of deposits. In foreign trade industry, deposit is a fund paid by buyer while placing an order, to protect the interests and safety of both parties in the process of purchase, shipment and delivery. After receiving the goods and confirm, buyer shall pay the rest amount apart from the deposit that has been paid. In addition, guarantee deposit system has 3 types of guarantee deposits: fixed guarantee deposit, fixed guarantee deposit for one container, and proportional deposit for one container.
1.Fixed guarantee deposit
Fixed guarantee deposit is a fund saved and frozen in your ESSA account for PO guarantee. If your Fixed guarantee deposit is sufficient, you do not need to pay deposit every time you place an order.
2.Fixed guarantee deposit for one container
In an order, a fixed deposit is charged for each container.
3.Proportional deposit for one container
In and order, a proportional deposit is charged for each container.