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Letter of Credit
ABN AMRO Bank
No.4567
Enschede
December 31, 2012
To: P.T.Electronic Import & Export Corp.206 Nan Yuan Road
Jinhua, Zhejiang, China
Dear Sirs,By request of account of Polyco Electronic Group, China we hereby iue an Irrevocable Documentary Credit No.4567 for USD 4,522,890(SAY US DOLLARS FOUR MILLION FIVE HUNDRED AND TWENTY-TWO THOUSAND ONLY)and available by your drafts drawn on us at sight for 110% of the invoice value, accompanied by the following documents:
(1)Signed Commercial Invoice in triplicate, including Contract No.KY700.(2)Packing and Weight List in triplicate;
(3)Insurance Certificate covering the Institute Cargo Clauses and the Institute War and Strike Clauses for 110% of the invoice value blank endorsed.(4)Full set of Clean Shipped on Board Ocean Bill of Loading made out to order and blank endorsed, marked “Freight Prepaid”, notifying the applicant.(5)Inspection Certificate on quality and weight iued by the Commodity Inspection Bureau in triplicate.(6)Certificate of Origin in triplicate evidences shipment from China Port to Netherlands.Evidencing shipment of:
—450 sets of “P.T” Brand Refrigerator
—From China to Netherlands not later than January 10, 2013.—Partial shipment is allowed.—Tranhipment is allowed.This credit is valid in Jinhua until February 3, 2013.We hereby engage with drawers, endorsers and bona fide holders that drafts drawn and negotiated in conformity with the terms of Credit will be fully honored on presentation.The number and the date of the Credit and the name of our bank must be quoted on all drafts required.This credit is subject to the Union Customs and Practice for Commercial Documentary Credits(2012 vision)except as otherwise exprely stated herein.Yours faithfully,For ABN AMRO Bank
William Smith
