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- Exporter and Importer sign the purchase contract
- Exporter ships the goods to the Importer
- Exporter forwards shipping documents to its Bank
- Exporter’s Bank forwards shipping documents to the Importer’s Bank
- Importer’s Bank release the shipping documents to the Importer
- Importer clears its goods using the shipping documents
- Importer pay its Bank for the goods already cleared
- Importer’s Bank transfers the funds to the Exporter’s Bank
- Exporter’s Bank pays the Exporter
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