1-Agreement between importer and exporter
2-importer applies for LC
3-Importer’s bank issue LC to exporter’s bank
4- Exporter’s bank advices the LC to the exporter
5- Exporter applies for export credit guarantee
6-ECA sends export credit guarantee to exporter’s bank
7-Exporter ship goods to importer
8-Exporter forward documents to his bank
9- Exporter’s bank discount the LC based on the export credit guarantee
10- Exporter’s bank forwards document to the Importer’s bank
11- Importer’s bank release document to Importer
12-Importer pays his bank
13- Importer’s bank pays the exporter’s bank
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