Process

Valor Global Trade adheres 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.

Buyer ›› Seller Buyer provides a Letter of intent describing requirements.
Seller ›› Buyer Seller responds with a soft corporate offer indicating ability to fill demand, and price of product.
Buyer ›› Seller Buyer responds with an irrevocable corporate purchase order indicating willingness to enter into contract at specified price
Seller ›› Buyer Seller responds with firm corporate offer officially offering product at indicated price and payment terms, and requesting bank endorsement
Buyer ›› Seller Buyers signs FCO, and provides banking comfort letter, on bank letter head.
Seller ›› Buyer Seller provides a contract, which can be negotiated back and forth with buyer.
Buyer ›› Seller Buyer sends pre-advice irrevocable revolving documentary letter of credit.
Seller ›› Buyer IRDLC in hand, seller provides POP documentation, which is communicated from the seller’s bank to the buyer’s bank.
Buyer ›› Seller POP activates the IRDLC, the activation of which is communicated from the buyer’s bank to the seller’s bank.
Seller ›› Buyer 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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