clean payment credit

Please fill the following particulars in a credit form to issue a Red Clause credit.

(1)issuing date: 6 June, 200×

(2)Credit No. 256734

(3)Credit amount: AUD64,000.00 (say Australian dollars...)

(4)expiry date: 31 July, 200×

(5)available with the advising bank by negotiation

(6)shipment date: 16 July, 200×

(7)special condition

"The Issuing Bank authorises the Negotiating Bank to pay 60% of the amount of the Credit in advance to the beneficiary against the following presentations:

Ⅰ. a receipt for the advance duly signed by the beneficiary;

Ⅱ. an undertaking from the beneficiary to utilize the funds to purchase and pack the goods;

Ⅲ. the undertaking of the beneficiary to present full set of documents as stipulated in the Credit to the Negotiating bank within the expiry of the credit.

After the advance payment has been made to the beneficiary, the Negotiating Bank may claim reimbursement to be supported by the receipt and undertaking on the Issuing Bank which will reimburse the negotiating bank immediately.

Upon negotiation of documents presented by the beneficiary, the advance payment for 60% of the credit amount will be deducted from the whole negotiating amount for beneficiary's refundment. The remaining approximate 40o-/o of the invoice value will be claimed by the Negotiating bank on the Issuing Bank for its reimbursement. "

Red Clause Credit

Name of Issuing Bank Place and date of issue

Bank of Australia, London, (1) ____________

Name of Beneficiary Advised through

To: Marlin Wool Company, Melbourne Bank of Australia, Melbourne

Dear Sirs,

At the request and on the instructions of (name and address of the applicant), we hereby issue an Irrevocable Documentary Credit No. (2) ______ for (3) ______ (say ____________) to expire on or before (4) ______ at Melbourne (5) __________________ of your draft for 40% of the invoice value drawn at sight on us against the presentation of the documents detailed herein:

① Commercial invoice in triplicate.

② Full set clean on board ocean bills of lading made out to order endorsed in blank marked "freight prepaid".

③ Packing list in triplicate.

Evidencing shipment from London to Melbourne not later than (6) ______.

Partial shipments not allowed. Transhipment allowed.

(7)Special condition

____________________________________________________________

____________________________________________________________

Instructions to the Negotiating Bank

All shipping documents in compliance with the terms and conditions of the credit shall be forwarded by you immediately to us for beneficiary's refundment of 60% advance payment and claiming your reimbursement of 40% invoice value.

We engage with drawers and bona-fide holders of draft (s) drawn under and negotiated in compliance with the terms and conditions of the credit that such draft (s) shall be duly honoured upon due presentation.

This Credit is subject to UCP 600.

Yours faithfully

Bank of Australia,

London

dignature(s)

1.Please fill the following particulars in a credit form to issue a Freely Negotiable Credit.

Issuing Bank: (1) Tokai Bank

Place and date of issue: (2) Tokyo, 4 March, 200×

Beneficiary: (3) EXP Co., Tianjin

Advising Bank: (4) ADV Bank, Tianjin

Applicant: (5) IMP Co., Tokyo

Credit No. (6) 13579

Amount: (7) USD36,500.00

Valid date: (8) 27 June, 200×

Valid place: (9) China

Payment method: (10) negotiation

Negotiating Bank: (11) any bank in China

Shipment date: (12) 12 June, 200×

Undertaking clause

(13)We hereby engage with drawers and/or bona fide holders that draft (s) drawn and negotiated in conformity with the terms and conditions of the credit will he duly honoured on presentation.

Bank-to-Bank instructions:

(14)The negotiating bank is authorised to claim reimbursement on the Tokai Bank, New York by telex. All draft (s) and documents must be sent to us by airmail.

2.Credit form

Freely Negotiable Credit

Name of Issuing Bank Place and date of issue

①②To: ③Advised through④

Dear Sirs,

At the request and on the instructions of⑤we hereby issue an Irrevocable Documentary Credit No.⑥for⑦(say⑦) to expire on or before⑧in⑨available by⑩withagainst

(×) Beneficiary's draft (s) atsight drawn on us and

(×) the documents detailed herein marked with "×".

(×) Commercial invoice in triplicate.

(×) Full set 2/2 original clean on board marine bills of lading made out to order and blank endorsed marked freight prepaid notifying applicant.

(×) Packing list in triplicate.

(×) Insurance policy or certificate covering all risks and war risks for 110% of the invoice value.

Evidencing shipment of(description of goods)

from Chinese port to Nagoya not later than

Partial shipments allowed.

Transhipment not allowed.

Documents to be presented within 15 days after the date of the transport document (s) but within the validity of the credit.

_________________________________________

_________________________________________________________________________________

Instructions to the advising bank:

Please advise the credit to the beneficiary without adding your confirmation.

Bank-to-Bank instructions:

_________________________________________

_________________________________________________________________________________

Reimbursements under this credit are subject to URR 725.

This Credit is subject to UCP 600.

Yours faithfully

①signature

A.claims

B.clear

C.clean

D.claret

An irrevocable confirmed credit gives the beneficiary:

(1)( ) a single assurance of payment

(2)( ) a double assurance of payment

(3)( ) a triple assurance of payment