Description of Instruments:

Instrument: Standby Letter Of Credit Total Face Value: Euro Twenty (10) Million Minimum. Euro One(1)Billion Maximum. Issuing Bank: UBS AG, HSBC, Deutsche Bank or ABN AMRO Age: One Year, One Day
Leasing Price: 8% of Face Value plus 2% commission fees to brokers to be shared 50/50 between the brokers on both lessor /lessee side Delivery: SWIFT TO SWIFT.
Payment: By Conditional SWIFT MT103 Hard Copy: Bonded Courier within 7 banking days.

PROCEDURE:
1. Lessor and Lessee execute, sign and initial this Deed of Agreement which thereby automatically becomes a full commercial recourse contract.

2.Within three (3) banking days after the agreement is signed by both parties, Lessee shall issue swift MT103 conditional payment instrument covering at least the 4 % half of the SBLC Face Value to the Lessor’s bank account. The remaining 4 % of the commissions Lease will pay after receive and verify instrument.

3.Lessor issue, deliver and SWIFT MT760 copy of SBLC to Lessee’s bank for authentication & verification of SBLC in favor of Lessee, not later than 72 hours of confirmation of receipt of said MT103 conditional payment instrument at the Lessor’s bank account. 4. Within seven (7) banking days after confirmation of receipt of payment of instrument invoice price and commissions by MT103, the Lessor will deliver hard copy of SBLC by bank bonded courier to Lessee’s bank

Note:In case if Leasee’s bank can not issue SWIFT 103 to cover lease charges – Leasor’s bank can accept irrevocable payorder endorsed by Leasee’s bank or conditional guarantee send by SWIFT 760. ( specimen of this kind of payment shall be attached to this agreement.

FORCE MAJEURE
Any delay in or failure of performance by either party of their respective obligations under this agreement shall not constitute a breach hereunder or give rise to any claims for damages if, and to the extent that such delays or failures in performance are caused by events or circumstance beyond the control of such party.

The term “Beyond the Control of Such Party “Include Lawful order of Government or Authority, Act of War, Rebellion or Sabotage, Fire, Flood, Earthquake or other natural disasters. Any other cause not within the control of such party or which is by exercise of reasonable diligence, the party will be unable to foresee or prevent or remedy.

ARBITRATION All disputes and questions whatsoever which arises between the parties to this agreement and touching on this agreement on the construction or application thereof or any account cost, liability to be made hereunder or as to any act or way relating to this agreement shall be settled by the arbitration in accordance with the arbitration laws of the ICC.

This agreement contains the entire agreement and understanding concerning the subject matter hereof and supersedes and replaces all prior negotiations and proposed agreements, written or oral . Neither of the parties may alter, amend, nor modify this agreement, except by an instrument in writing signed by both parties. This agreement will be governed by and construed in accordance with the laws of United Kingdom. In the event that either party shall be required to bring any legal actions against the other it enforce any of the terms of this agreement the prevailing party shall be entitles to recover reasonably attorney fees and costs.