STANDBY LETTER OF CREDIT TO: Citibank N.A.

, [COUNTRY NAME] Branch (the Beneficiary) Dear Sirs, Standby Letter of Credit No. [ ] dated [ ] We, [NAME OF ISSUING BANK], whose registered office is located at [ADDRESS OF ISSUING BANK], effective immediately, hereby issue in your favor our irrevocable and unconditional Standby Letter of Credit No. ______ (SBLC), for an amount not to exceed [AMOUNT IN NUMBERS] ([AMOUNT IN LETTERS]) (the Aggregate Total Amount), expiring on DD/MMM/YYYY or after any date of extension hereof (the Expiry Date) and will be automatically renewed for similar periods of twelve months, unless we inform you to the contrary, in writing via tested cable/telex or authenticated S.W.I.F.T message, before at least (03) months from the Expiry Date, subject always to our right to discharge our obligations under this SBLC by payment in full of the un-drawn portion of this SBLC at any time before the Expiry Date, whereupon this SBLC shall automatically expire. This SBLC has been issued as security covering the credit facilities (including, but not limited to, interest and bank charges), which are extended by you to [NAME AND ADDRESS OF CREDIT CLIENT] (the Company). Funds available under this SBLC are available to you against your written demands from time to time for payment of an amount not exceeding the Aggregate Total Amount. The demand must be include the proof of shipping B/L documents of goods to the applicant, and in the form of a tested cable/telex or authenticated S.W.I.F.T. in which this SBLC must be identified by its number and incorporating your certification that: This drawing under the SBLC in the amount of [______] (the Drawing Amount) is made in respect of amounts due and payable to us from the Company. You are required to make payment of the required Drawing Amount to our account number [______] held with [______]. Any demand hereunder must be sent to our offices, located at [ADDRESS OF ISSUING BANK] and marked for the attention of [NAME OF UNIT AT ISSUING BANK] and quoting this SBLC number. Partial drawings are allowed under this SBLC within a maximum of the Aggregate Total Amount. We hereby agree to promptly honor each tested cable/telex or authenticated S.W.I.F.T. demand for payment if received by us on or before the Expiry Date of this SBLC, in immediately available funds free and clear of and without set off, counterclaim or deduction of any nature whatsoever. We also agree that should this SBLC not be renewed, you reserve and have the right to request payment up to ninety (90) days after the aforementioned Expiry Date. You may at any time assign all or any part of your rights and benefits hereunder in respect of this SBLC to any other Citigroup affiliates and/or subsidiaries. *This SBLC is subject to the International Standby Practices 1998, International Chamber of Commerce Publication No. 590 (the ISP98) and as to matters not governed by ISP98, shall be governed by and construed in accordance with the laws of England and Wales. **This SBLC is subject to the Uniform Customs and Practice for Documentary Credits, 2007 Revision, International Chamber Of Commerce Publication No. 600 (the UCP), and as to matters not addressed by the UCP shall be governed by and construed in accordance with the laws of England and Wales. (Please select the agreed provisions.)