Letters of Credit
How It Works

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First step

Create new
Letter of Credit

Send mail request to Exporter
+ add requested documents.

- BUYER
First step
Second step

Approve contract
details & Send
documents requested.

Seller approves contract details and
sends requested documents to Buyer.

- SELLER
Second step
3. step

Buyer accepts
requested
documents.

Send mail request to Exporter
+ add requested documents.

- BUYER
3. step
4. step

Letter of Credit is converted to PDF

GoldGuard generates Letter of Credit.

- GOLDGUARD
4. step
5. step

Buyer initiates fund
transfer into
GoldGuard.

Buyer either does a Bank Transfer or BitPay deposit.
Deposit is approved by GoldGuard Admin.

- BUYER
5. step
6. step

Upload
shipment details

Seller uploads shpment details.

- SELLER
6. step
7. step

Deliver
was confirmed.

Buyer confirms shipment receipt.

- BUYER
7. step
8. step

Payment
transferred to Seller.

Reserved payment released
to Seller's GoldGuard account.

- BUYER
8. step

Any questions or clarifications about the Letter of Credit process may be sent to [email protected].

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