STANDBY LETTER OF CREDIT(SBLC) FORMAT

FROM : TO : ( _______________ NAME AND ADDRESS ) SBLC NO. CURRENCY DATE OF ISSUE DATE/PLACE OF EXPIRY APPLICANT BENEFICIARY AMOUNT : : : : : : (NAME & ADDRESS) : $/____________ (USD/EURO ______ M/BILLION ONLY)

WE, (BANK NAME, ADDRESS), HEREBY ISSUE OUR IRREVOCABLE NO........ IN YOUR FAVOUR AND FOR THE ACCOUNT OF (BENEFICIARY NAME & ADDRESS) FOR THE AGGREGATE AMOUNT OF (USD/EURO _,000,000.00. ONLY). THIS PAYMENT OBLIGATION IN YOUR FAVOUR AS STATED ABOVE IS AVAILABLE WITHIN THE VALIDITY OF THE STANDBY LETTER OF CREDIT UPON RECEIPT OF YOUR WRITTEN DEMAND FOR PAYMENT OR YOUR TESTED TELEX/ SWIFT ADVICE. ON PRESENTATION OF CONFIRMING DOCUMENTS, WE WILL REMIT FUNDS AT SIGHT AS PER YOUR INSTRUCTIONS. WE PROMISE THAT UPON RECEIPT OF YOUR WRITTEN REQUEST, BY DULY SIGNED LETTER OR AUTHENTICATED SWIFT OR DULY TESTED TELEX, CONTAINING YOUR DECLARATION. THAT THE AMOUNT YOU ARE CLAIMING FROM US HEREUNDER IS THE OUTSTANDING AMOUNT TO BE PAID BY APPLICANT, DUE AND PAYABLE ON DEMAND AT SIGHT. THE AMOUNT OF THIS PAYMENT OBLIGATION WILL BE REDUCED BY ANY PAYMENT EFFECTED BY US HEREUNDER. OUR PAYMENT OBLIGATION IS VALID UNTIL (DD, MM,2013) AND EXPIRES AUTOMATICALLY AND IN FULL ON SAID DATE WHETHER IT IS A BANK WORKING DAY OR NOT. THE CLAIM WILL BE CONSIDERED AS HAVING BEEN MADE ONCE WE ARE IN POSSESSION OF YOUR REQUEST FOR PAYMENT. THE AMOUNT WHICH MAY BE DRAWN BY YOU UNDER THIS PAYMENT OBLIGATION SHALL BE AUTOMATICALLY REDUCED BY THE AMOUNT OF ANY DRAWING HEREUNDER. PARTIAL DRAWINGS ARE PERMITTED.

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WE HEREBY ENGAGE WITH YOU THAT ALL DRAFTS DRAWN AND PRESENTED UNDER AND IN ACCORDANCE WITH THE TERMS OF THIS TRANSFERABLE OBLIGATION, WILL BE DULY HONOURED BY US. EXCEPT SO FAR AS OTHERWISE EXPRESSLY STATED, THIS STANDBY LETTER OF CREDIT IS SUBJECT TO SWISS LAW. HOWEVER, IN THE EVENT OF ANY DISPUTE ARISING, THIS STANDBY LETTER OF CREDIT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH SUBSTANTIVE SWISS LAW (I.E. EXCLUDING CONFLICT OF LAWS, RULES AND REGULATIONS). ANY CONFLICT ARISING OUT OF OR IN CONNECTION THIS PAYMENT OBLIGATION SHALL BE SUBJECT TO THE EXCLUSIVE JURISDICTION OF THE COMMERCIAL COURT OF THE CANTON OF ZURICH, WITH RESERVE OF APPEAL TO THE SWISS FEDERAL COURT.

FOR AND ON BEHALF OF(BANK NAME, ADDRESS) _____________________ Authorized Signatory

BANK OFFICER [1] <Name, Title, and Pin Code>

_______________________ Authorized Signatory

BANK OFFICER [2] <Name, Title, and Pin Code>

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