WE HEREBY ESTABLISH OUR IRREVOCABLE AND TRANSFERABLE CREDIT IN FAVOR OF ________ (NAME OF BENEFICIARY) ________________ FOR THE ACCOUNT OF _____(NAME OF THE ACCOUNT PARTY) _______________ AVAILABLE BY BENEFICIARY'S DRAFT DRAWN AT SIGHT ON ________ (NAME OF THE ISSUING BANK) _____________ MATURING ON [DATE OF MATURITY] IN THE AMOUNT OF US$ ____________ [SAY _____________ MILLION DOLLARS OF THE UNITED STATES OF AMERICA]. THIS LETTER OF CREDIT IS VALID UNTIL [VALIDITY DATE 15 DAYS AFTER MATURITY OF CREDIT].

THIS LETTER OF CREDIT IS TRANSFERABLE WITHOUT PRESENTATION OF IT TO US AND THE PAYMENT OF ANY TRANSFER FEE.

THIS LETTER OF CREDTI IS AVAILABLE TO YOU AGAINST YOUR FIRST DEMAND DRAFT DRAWN ON US BEARING ON ITS FACE THE CLAUSE „DRAWN UNDER ____NAME OF ISSUING BANK ___ LETTER OF CREDIT NO. _____INSTRUMENT NUMBER ______ AND BE DATED".

WE HEREBY AGREE WITH THE DRAWERS, ENDORSERS AND BONA FIDE HOLDERS OF DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS CREDIT THAT THE SAME SHALL BE DULY HONORED ON THE DUE PRESENTATION TO US.

EXCEPT AS OTHERWISE EXPRESSLY STATED HEREIN, THIS CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS, ICC 500, 1993 EDITION.