INTESA SODITIC
| 1. Commitment to purchase | 5a. Send Documents to issuing bank |
| 2. Commercial Contract | 5b. Presentation of other documents required by the forfaiter for discount |
| 3. Instructions to issue Letter of Credit | 6. Acknowledgement of Assignment |
| 3a. Issuance of Letter of Credit | 7. Discount |
| 3b. Advice of issuance of Letter of Credit | 7a. Payment of Discounted Proceeds |
| 4. Delivery of Goods | 8. Repays at maturity |
| 5. Presentation of Documents for acceptance | 8a. Repays at maturity |
| 1. Commitment to purchase | 6. Delivers documents |
| 2. Commercial Contract | 7. Discount |
| 3. Delivery of Goods | 8. Presents documents for payment |
| 4. Gives Guarantee | 9. Repays maturity |
| 5. Hands over documents |