The RetainerCrypto.online platform replaces traditional bank-issued Letters of Credit (LCs) by using blockchain-verified inspection reports and smart contract-controlled USDC vaulting to guarantee trust in international trade. In a typical import/export transaction, Incoterms—internationally recognized commercial terms—define responsibilities for shipping, insurance, risk, and delivery between buyers and sellers. Instead of relying on banks to verify conditions and release payment upon delivery, this platform allows a certified inspector at the port to digitally confirm product quality and quantity. Once verified, RetainerCrypto.online securely holds buyer funds in USDC and releases them incrementally as each Incoterm milestone is reached (e.g., FOB, CIF, DDP), ensuring transparency and automated compliance with shipping and delivery expectations across borders—without costly delays, manual paperwork, or third-party banking fees.
Inspector Role at the Port
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Inspector accesses a portal via RetainerCrypto.online.
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Enters an assertion verifying product quantity and quality.
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Confirms the product is now in the possession of the shipping company.
Seller/Shipper Notification
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The platform notifies the seller/shipper that:
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The USDC funds are securely vaulted on the platform.
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Funds will be released incrementally based on the shipment’s progress through predefined Incoterm stages (e.g., loading, transit, delivery).
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Buyer Visibility and Assurance
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Buyer can view the inspector’s verification in real-time.
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Gains confidence that the goods meet agreed conditions and have been handed over to the shipper.
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USDC escrow provides assurance that payments will only be released upon progress confirmation.
Automated Payment Flow via RetainerCrypto.online
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USDC held in a smart vault.
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Funds released automatically as the shipment moves through:
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Origin port departure
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In-transit checkpoints (e.g., sea/air freight progress)
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Arrival and final delivery confirmation
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