What is Smart Casual?

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Can someone please tell me what smart casual means? I have an invite to an evening garden party and the dress code is smart casual. I don’t do smart casual because I don’t like the sound of it and in any case I only do formal.

I had already decided on what I was going to wear until the Mhinisteir dropped the dress code bombshell. I think it is a bit too late to go clothes shopping but I am not sure that I need more clothes. The biggest challenge that I have now is to try and “convert” my formal outfit to smart casual which seems like an impossible task.