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Terms and conditions for Import Letter of Credit

1. The documents and the goods and all proceeds of sale and of
insurance, and all your rights as unpaid sellers, shall be pledged
to the Bank and be security to the Bank for all obligations and
liabilities incurred by it or its correspondents in connection with
the Letter of Credit (the "Credit") and for all disbursements in
connection with the goods (which you hereby authorise the Bank
to pay for your account) and, to the fullest extent permitted by
law, all your other liabilities to the Bank present and future.

2. You will keep the goods fully insured and in the event of your failing
to do so the Bank may (but shall not be obliged to) insure the goods
at its discretion and at your expense, and the Bank may debit your
account with the cost of so doing.

3. The Bank may on payment debit your account with all sums paid in
connection with the Credit or the goods and any commission and
interest or at any time if it thinks fit with the whole or part of the
amount of the Credit. You will place the Bank in funds on demand to
meet such debits and at the latest three days before the due date
(or earlier if required by the Bank) to meet any acceptances or
deferred payment undertakings.

4. In the case of a Credit in a currency other than UAE Dirhams, the


Bank may, unless you have agreed other settlement arrangements
with it, pass any such debits in UAE Dirhams at the Bank's rate of
exchange ruling when it passes such debit or, if passed after
payment, at the Bank's rate ruling when it receives advice of
payment.

5. In the event of default the Bank may at any time (whether before or
after arrival) sell the documents or goods and it may debit your
account with any shortfall.

You will indemnify the Bank against all claims, demands, costs,
charges and expenses which may be brought or preferred against
the Bank or which it may incur arising out of or in connection with
the Credit unless directly due to its negligence or default.

6. The Bank's rights against you shall not be affected by, and the Bank
and/or its correspondents shall not be responsible for any loss or
damage to the goods however or whenever caused, their quantity,
quality or condition or their detention by any person for whatever
reason, the loss, validity, sufficiency, genuineness or accuracy of
the shipping, insurance or any other documents or failure for any
reason by the Bank, its correspondents or any other person to
store, protect or insure the goods, and all acts and omissions of the
drawers and/or vendors and/or the Bank's correspondents and/or
any other person shall be at your risk.

7. The Bank may arrange for the Credit to be issued by its


correspondent bank. If the Bank elects to do so, the Bank will retain
full responsibility for the Credit as between the Bank and you, and
the respective rights and obligations of the parties will be the same
as if the Bank had issued the Credit itself.

8. You will sign or execute and deliver any transfer, deed or other
document which the Bank may reasonably require from you to
obtain possession of or perfect its title to the goods and/or to deliver
the goods or vest the goods in any purchaser(s) from the Bank, or
otherwise for the recovery of any proceeds of sale or insurance.

9. If the Credit is revocable it may be cancelled by the Bank at any


time, but cancellation by the Bank shall be without prejudice to your
and the Bank's respective obligations as regards any bills (or
documents) negotiated or accepted or payments made there under
or (where the Credit is available by deferred payment) documents
taken up before notice of such cancellation has been received at
the place where the Credit is available.

10. All teletransmission messages in connection with the Credit shall be


dispatched at your risk and cost and (save where it is directly due to
the Bank's negligence or default) the Bank shall not be responsible
for any loss caused by mistakes, mutilations or omissions in their
transmission, coding or decoding or interpretation when received or
by delay on the part of the teletransmission companies and/or
operators.

11. If two or more parties sign this document the obligations hereunder
are joint and several.

12. The Credit requested by this application is intended to be and will


be enforceable by the Beneficiary and any other parties to it
according to its terms and conditions. Otherwise, neither this
application nor the Credit is intended to confer any benefit on, or to
be enforceable by, any third party.

13. The Credit is to be subject to the "Uniform Customs and Practice for
Documentary Credits", 2007 Revision, International Chamber of
Commerce Publication No. 600 and Reimbursement Authorities
issued, if any, will be subject to the "Uniform Rules for Bank-to-Bank
Reimbursements under Documentary Credits", International
Chamber of Commerce Publication No. 525.

14. Bank

Notwithstanding anything to the contrary in these terms and


conditions a customer of Lloyds TSB Bank plc shall be (and shall be
deemed to be) entering into a contract with Lloyds TSB Bank plc, a
customer of Lloyds TSB Scotland plc shall be (and shall be deemed
to be) entering into a contract with Lloyds TSB Scotland plc and a
customer of Lloyds TSB Offshore Limited shall be (and shall be
deemed to be) entering into a contract with Lloyds TSB Offshore
Limited and all references in these terms and conditions to the
"Bank", "us", "we", "Lloyds", "Lloyds Bank" and "Lloyds TSB Bank
plc" shall be construed accordingly to give full effect to this clause.

15. Choice of Law

15.1 Subject to clauses 15.2 and 15.3 below, unless otherwise


expressly agreed by the parties in writing, these terms and
conditions and all matters arising out of or in connection with these
terms and conditions shall be, without regard to principles of conflict
of laws, subject to and governed by the laws of the Emirate of
Dubai, United Arab Emirates and the courts in the Emirate of Dubai,
United Arab Emirates shall have the non-exclusive jurisdiction to
settle any dispute which may arise out of or in connection with
these terms and conditions.

15.2 The parties agree that the Bank may, upon giving 30 days'
prior notice to you (which the parties hereby acknowledge will be
(and will be deemed to be) properly given, if the Bank places the
notice on the website through which you access your account or by
any other means that the Bank deems appropriate), elect that these
terms and conditions and all matters arising out of or in connection
with these terms and conditions shall, from the date of these terms
and conditions, be subject to the laws of any one of the following
countries: Kingdom of Saudi Arabia, State of Qatar, Sultanate of
Oman, State of Kuwait, Kingdom of Bahrain or a jurisdiction which
is in some way connected to the subject matter of these terms and
conditions ("Nominated Jurisdiction") and/or that the courts of a
Nominated Jurisdiction will have jurisdiction over these terms and
conditions and all matters arising out of or in connection with these
terms and conditions.

15.3 If the Bank makes an election pursuant to clause 15.2 then,


without prejudice to the matters that have either been already
decided by a court or are being considered by a court with
competent jurisdiction and without prejudice to the Bank's
continuing or accrued rights under these terms and conditions, all
matters arising out of or in connection with these terms and
conditions shall be decided by reference to the laws and/or by the
courts of the jurisdiction notified by the Bank to you.

15.4 By using the product and/or service comprised in these terms


and conditions you agree to be bound by these terms and
conditions in their entirety and, in particular, agree that this clause
15 is reasonable bearing in mind the nature of the product and/or
service provided to you by the Bank.

16. Severance

16.1 If any clause or part of these terms and conditions is found by


a court, tribunal, administrative body or authority of competent
jurisdiction to be illegal, invalid or unenforceable then that provision
shall, to the extent required, be severed from these terms and
conditions and will be ineffective without, as far as possible,
modifying any other provision clause or part of these terms and
conditions and this will not affect any other provisions of these
terms and conditions which will remain in full force and effect.

16.2 If any term of these terms and conditions that the Bank
considers to be material is deemed to be illegal, invalid or
unenforceable, then the parties shall co-operate with each other to
incorporate a term into these terms and conditions that complies
with the applicable law and as far as possible achieves the same
purpose as the aforementioned illegal, invalid or unenforceable
term.

17. Further Assurance

You shall do and procure the doing of all things that the Bank
considers necessary to give full effect to the provisions of these
terms and conditions, including without limitation to the generality of
the foregoing, executing all security and other documents requested
to be executed by the Bank from time to time transferring
possession of title and other documents to the Bank, assisting to
register and uphold the Bank's interests and rights in and to all
goods, documents and things over which security is taken or
purported to be taken by the Bank from time to time and execute
and return all amended versions of these terms and conditions to
the Bank as requested by the Bank.