What are the requirements for third-party payments?

Buyer's direct payment should be the preferred option. Meanwhile, XTransfer also supports third-party payments under the sales of physical goods.

If the payment is made by a third party other than the buyer, XTransfer will verify the payer and the source of funds. Please confirm the relationship between the payer and the buyer in advance and provide required documents.

Scenario 1: If your buyer is Company A and the payment is made by their affiliated Company B, you need to provide company registration documents from both A and B to verify the relationship.

Scenario 2: If your buyer is Company A and the payment is made by an import & customs clearance agent Company B, you need to provide an import agency agreement between A and B.

Scenario 3: If your buyer is Company A and the payment is made by the end buyer Company B, you need to provide a purchase contract between A and B or historical logistics documents proving the shipment from A to B.

Furthermore, please advise the payer to include a Note with transaction information to expedite the payment process.

The Note should include the buyer's name, invoice number/PI/contract number, and product category. For example, if your buyer is Company A and the payment is made by their affiliated Company B, B can include the following payment Note: Company A, Invoice NO. xxx, Product xxx.

Global Receiving Account Requirements Regarding Third-Party Payments (Payments made by an entity other than the buyer's own company)
Overall Policy on Third-Party Payments:
Only third-party payments with justifiable commercial rationale will be accepted; payments deemed suspicious or those lacking a reasonable background will be rejected.
Unacceptable Third-Party Payment Scenarios
The payer is suspected of operating an underground bank
The payer has a history of involvement in sanctions-related activity or other high-risk payment activity
Acceptable Third-Party Payment Scenarios and Documentation Requirements
The payer is a shareholder or director of the buyer company
May require supporting documentation to officially verify the relationship to the director or shareholder
The payer is an affiliated company of the buyer
May require supporting documentation showing the shared equity or cross-holding structure with the buyer
The payer is the end-customer of the buyer (The payer's industry must be compatible with your company's primary business operations)
Required documentation:
A tripartite contract, or a purchase agreement between the payer and the buyer.
Contracts must bear the company's official seal or a valid signature. For signed contracts, identification (such as an ID card or passport) of the signatory must be submitted
Quantity control: It is recommended that the same buyer avoid using multiple third-party payments, otherwise the transaction may be rejected and returned.
The payer is the buyer's business partner (e.g., a freight forwarder or customs broker)
Required documentation: Provide the agency agreement between the buyer and the paying company.
Quantity control: It is recommended that the same buyer avoid using multiple third-party payments, otherwise the transaction may be rejected and returned.
Please note: Some receiving accounts may not support third-party payments or may have other requirements. In the event of any discrepancy, please refer to the specific requirements for the receiving account in question.
Please note: For remittances made via a third-party payment platform, the original proof of payment (e.g., bank transfer receipt) from the remitter can be provided to help verify if the payment is a third-party payment.