Payment

No More Letter of Credit!

Payment first or delivery first?

STS (Secured Transaction System)

STS, namely Secured Transaction System, is an smart transaction system created by ComB2B.com for small wholesale orders. The system ensures a safer cargo ownership transfer and payment release by the following features:

Signing e-Contract

Buyers and suppliers are supposed to sign an e-Contract on ComB2B.com, including product price, quantity, payment date, delivery date and delivery place.

Payments

The buyer finishes the payment to the account designated by ComB2B.com based on the e-Contract information. So far, the payment has not been released to the supplier.

Cargo Delivery

The supplier initiates the advanced shipping notice (ASN) ,completes the customs declaration, and delivers the cargo to the bonded warehouse according to the e-Contract.

Cargo Reception

The buyer receives the cargo with the help of the warehouse operator entrusted by ComB2B.com according to the e-Contract and ASN.

Cross Check

ComB2B.com will cross check the ASN and the e-Contract information to make sure they 100% match, and then give instructions for payment release.

Settlements

The bank designated by ComB2B.com releases the payment to the supplier according to the instruction. ComB2B.com generates needed custom declaration information for exchange settlement

Signing e-Contract

Buyers and suppliers are supposed to sign an e-Contract on ComB2B.com, including product price, quantity, payment date, delivery date and delivery place.

Payments

The buyer finishes the payment to the account designated by ComB2B.com based on the e-Contract information. So far, the payment has not been released to the supplier.

Cargo Delivery

The supplier initiates the advanced shipping notice (ASN) ,completes the customs declaration, and delivers the cargo to the bonded warehouse according to the e-Contract.

Cargo Reception

The buyer receives the cargo with the help of the warehouse operator entrusted by ComB2B.com according to the e-Contract and ASN.

Cross Check

ComB2B.com will cross check the ASN and the e-Contract information to make sure they 100% match, and then give instructions for payment release.

Settlements

The bank designated by ComB2B.com releases the payment to the supplier according to the instruction. ComB2B.com generates needed custom declaration information for exchange settlement

Advantages of STS

Digitalized the Whole Process

In international procurement, the entire process, from inquiry to final settlement, has been seamlessly transitioned online. ComB2B.com meticulously preserves electronic vouchers for each stage, ensuring a streamlined and secure process.

Perfect for Small Wholesale Orders

In alignment with the trend of "small and frequent wholesale orders" in international procurement, the ComB2B.com system facilitates a non-letter-of-credit mode, resulting in significant time and cost savings for all.

Expand New Markets

ComB2B.com will collaborate with the Hong Kong Digital Currency Exchange to assist suppliers in penetrating emerging markets along the Belt and Road, particularly those facing foreign exchange challenges.

Accepting Payment

T/T Bank Transfer

Credit Card

Experience enhanced security in your small wholesale transactions now