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DATE : Date

TO :

FROM : BANK OF COMMUNICATIONS NINGBO SUB BRANCH


ROOM B707 NO. 55 ZHONGSHAN EAST ROAD NINGBO CHINA

RE : ISSUANCE OF IRREVOCABLE LETTER OF CREDIT

WE, THE BANK OF COMMUNICATIONS NINGBO SUB BRANCH, HEREBY ISSUE AN IRREVOCABLE
TRANSFERABLE REVOLVING DOCUMENTARY LETTER OF CREDIT NO. _____ AS FOLLOW:

BY ORDER AND :

IN FAVOUR OF :

FOR AMOUNT OF : USDXXX (UNITED STATES DOLLARS XX ONLY)

FORM OF DOCUMENTARY CREDIT


IRREVOCABLE TRANSFERRABLE

DATE OF ISSUE
DATE MONTH 2009

VALIDITY:
TILL JANUARY 31ST 2010 IN HONG KONG BY NEGOTIATION AT SIGHT AGAINST THE
PRESENTATION OF THE FOLLOWING DOCUMENTS:

1. BENEFICIARY’S SIGNED COMMERCIAL INVOICE OF FOB VALUE IN THREE ORIGINALS,


INDICATING THE CONTRACT NUMBER, LC NUMBER, NAME OF CARRYING VESSEL AND B/L
DATE;

2. 3/3 ORIGINAL CLEAN ON BOARD BILLS OF LADING MAKE OUT TO ORDER, BLANK
ENDORSED AND MARKED “FREIGHT PAYABLE AS PER CHARTER PARTY’ AND NOTIFY
APPLICANT .

3. CERTIFCATE OF WEIGHT AND QUANTITY, IN ONE ORIGINAL AND THREE COPIES ISSUED
BY THIRD PARTY INSPECTOR AT LOADING PORT IN EAST KALIMANTAN THAT
CONDUCTED THE SURVEY AT LOADING PORT AND MADE OUT “TO WHOM IT MAY
CONCERN”;

4. CERTIFICATE OF QUALITY, IN ONE ORIGINAL AND THREE COPIES ISSUED BY THIRD


PARTY INSPECTOR AT LOADING PORT IN EAST KALIMANTAN THAT CONDUCTED THE
SURVEY AT LOADING PORT, SHOWING THE QUALITY BASIS OF COMPOSITE SAMPLE OF
LOADPORT BEFORE LOADING MADE OUT “TO WHOM IT MAY CONCERN”;

5. CLEANLINESS CERTIFICATE, IN ONE ORIGINAL AND THREE COPIES ISSUED BY THIRD


PARTY INSPECTOR AT LOADING PORT IN NORTH KALIMANTAN THAT CONDUCTED THE
SURVEY AT LOADING PORT, TO CONFIRM NOMINATED VESSEL WAS FOUND TO BE
VISUALLY CLEAN AND FREE FORM DEBRIS TO LOAD THE NOMINATED CARGO;

6. CERTIFICATE OF ORIGIN IN ONE ORIGINAL AND THREE COPIES DETAILING THE NAME OF
COMMODITY, LOADED QUANTITY, AND THE NAME OF CARRYING VESSEL ISSUED BY
INDONESIA GOVERNMENT AND MADE OUT “TO WHOM IT MAY CONCERN”;
7. BENEFICIARY’S CERTIFIED COPY OF FAX DISPATCHED TO APPLICANT LATEST 3
WORKING DAYS AFTER THE DATE OF B/L ADVISING SHIPMENT DETAILS INCLUDING
CONTRACT NUMBER, NAME OF COMMODITY, NAME OF VESSEL, WEIGHT SHIPPED, BILL
OF LADING DATE AND SAILING DATE FROM THE LOADING PORT;

8. BENEFICIARY’S CERTIFICATE CERTIFYING THAT THEY HAVE SENT TO APPLICANT BY FAX


ONE SET OF DOCUMENTS INCLUDING B/L, COMMERCIAL INVOICE, CERTIFICATE OF
QUALITY, CERTIFICATE OF WEIGHT, CERTIFICATE OF ORIGIN, AND BENEFICIARY’S
CERTIFIED COPY OF FAX WITHIN SIX (6) WORKING DAYS AFTER THE DATE OF B/L.

DESCRIPTION OF GOODS:
50,000 MTS OF STEAMING COAL IN BULK PER LIFTING UNDER CONTRACT NO.: 003/DEC/09

SPECIFICATION OF GOODS:
AS PER CONTRACT NO. 003/DEC/09 SPECIAL ATTENTION TO CLAUSE 3 AND CLAUSE 12 WHICH
FORM AN INTEGRAL PART OF THIS DOCUMENTARY LETTER OF CREDIT

DELIVERY TERM:
CIF ONE SAFE BERTH CHINA MAIN PORT STARTING FROM 21ST DECEMBER 2009 TO 30TH
DECEMBER 2009.

UNIT PRICE:
CIF ONE SAFE BERTH CHINA MAIN PORT PRICE BASED ON BILL OF LADING METRIC TON
QUANTITY IN UNITED STATES DOLLARS SHALL BE THE XXX PER METRIC TON.

FINAL PRICE SHALL BE EXPRESSED TO TWO DECIMAL PLACES BY ROUNDING UP THE SECOND
DECIMAL PLACE IF THE THIRD DECIMAL PLACE IS FIVE (5) OR GREATER.

SPECIAL CONDITIONS

1. PARTIAL SHIPMENTS NOT ALLOWED.

2. TRANSHIPMENT NOT ALLOWED.

3. CHARTER PARTY BILLS OF LADING ARE ACCEPTABLE.

4. THIRD PARTY DOCUMENTS ARE ACCEPTABLE

5. ALL CHARGES INCURRED AT APPLICANT’S BANK FOR APPLICANT’S ACCOUNT, ALL


CHARGES INCURRED AT BENEFICIARY’S BANK FOR BENEFICIARY’S ACCOUNT.

6. INSURANCE TO BE COVER BY SELLER.

7. THE PRICE CLAUSE MENTIONED ABOVE WITHOUT FURTHER AMENDMENT OF THIS L/C.

8. TYPOGRAPHICAL ERRORS ARE NOT BE CONSIDERED AS DISCREPANCIES EXCEPT FOR


QUANTITY, TYPE OF PRODUCT AND AMOUNT.

9. PAYMENT FALLING DUE ON A SUNDAY OR MONDAY NEW YORK BANKING HOLIDAY SHALL
BE MADE ON THE FOLLOWING NEW YORK BANKING DAY. PAYMENT FALLING DUE ON A
SATURDAY OR NON-MONDAY NEW YORK BANKING HOLIDAY SHALL BE MADE ON THE
PREVIOUS BANKING DAY.

EXCEPT SO FAR AS OTHERWISE EXPRESSLY STATED HEREIN, THIS DOCUMENTARY CREDIT IS


SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS (1993
REVISION) OF THE I.C.C..(PUB.NO.500)

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