Step one – signing the confidentiality agreement between the parties.
Step two – Receipt of loi or icpo prvided by the buyer, for forwarding and verification of the document in the selling company. Once the documentation is approved, an fco is issued. This
guarantee should be in the following format: sblc or dlc, being transferable, divisible, conditional, and irrevocable. In the case of an extensive purshase – 12 (twelve) months – sbls full – payments in cash by mt 103 – Upon presentation of shipping documents (b/l+sgs) in the ucmr trading group.
Step Three – Once the fco is received, it should be signed and stamped with the seller company providing feedback.
Step four – After completing step three, with the fco in hand, the selling company will issue the spa and the proforma invoice, providing feedback to the buyer company.
Step five – wuth the spa and proforma invoice in hand, the buyer company will sign and stamp the respective documents.
Step six – the buyer send the lc to the selling company, which will analyze and make any necessary changes to the banking instrument.
Step seven – the buyer’s bank will issue the dlc/mt and send it, to the selling company’s bank.
Step eight – the buyer’s representative may monitor the product shipment.

Note: chinese banks should use a branch outside of china (hong kong)