S-mart Depot, Inc.

S-MART DEPOT, INC.

S-mart Depot, Inc. strictly to the procedural standards of foreign trade set out by the International Chamber of Commerce, and
conducts all trade in strict accordance with Incoterms 2000 and the Unform Rules for Collection expressed in ICC URC no.
502. You can be confident that Valor will guide you through the process in a professional, efficient and thorough manner.

Procedure

Buyer ›› Seller

LOI

Buyer provides a Letter of intent describing requirements.

Seller ›› Buyer

SCO

Seller responds with a soft corporate offer indicating ability to fill demand, and price
of product.

Buyer ›› Seller

ICPO

Buyer responds with an irrevocable corporate purchase order indicating
illingness to enter into contract at specified price

Seller ›› Buyer

FCO

Seller responds with firm corporate offer officially offering product at indicated price
and payment terms, and requesting bank endorsement

Buyer ›› Seller

BCL

Buyers signs FCO, and provides banking comfort letter, on bank letter head.

Seller ›› Buyer

Contract

Seller provides a contract, which can be negotiated back and forth with buyer.

Buyer ›› Seller

Pre Advice
IRDLC

Buyer sends pre-advice irrevocable revolving documentary letter of credit.

Seller ›› Buyer

POP

IRDLC in hand, seller provides POP documentation, which is communicated from
the seller’s bank to the buyer’s bank.

Buyer ›› Seller

Activie
IRDLC

POP activates the IRDLC, the activation of which is communicated from the buyer’s
bank to the seller’s bank.

Seller ›› Buyer

Product

Product is loaded and, all shipment, certification, specification, quality and
origination documentation, as per contract, is forwarded from the seller’s bank to
the buyer’s bank to release payment.

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