Claim reimbursement by means of a Time draft

A Credit available by acceptance

  1.Name of Issuing Bank     Place and date of issue

  Dresdner Bank             Hamburg, 15 April, 200 x

  To: China National Light Indus-    This Credit is advised through

    trial Products Imp. & Exp.    ICBC, Tianjin

    Corp., Tianjin Branch,

    Tianjin

  Dear Sirs,

  By order and for account of the applicant, we hereby issue an Irrevocable Documentary Credit No. H169087 for USD25,730.00 to expire on 31 May, 200× at Tianjin available with The Industrial and Commercial Bank of China, Tianjin by acceptance against beneficiary's draft at 90 days sight drawn on ICBC, Tianjin (advising bank) and the documents detailed herewith:

  ______________________________________________________________________________

  Partial shipments not allowed. Transhipment allowed.

  All charges outside Issuing Bank's country including acceptance commission are for account of beneficiary.

  ______________________________________________________________________________

  If this Credit shall be duly accepted on presentation to drawee bank and duly honoured at maturity.

  ______________________________________________________________________________

  Bank-to-Bank Instructions:

  Accepting bank is to draw their time draft on Bank of America, New York payable at a fixed future time i. e. maturity of accepted beneficiary's drafts.

  Reimbursements under this Credit are subject to the Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credit, ICC Publication No. 725.

  2.

  From: Dresdner Bank, Hamburg

  To: Bank of A.merica, New York

Reimbursement Authorisation

  We hereby issue a Reimbursement Authorisation to you to accept and pay a time draft drawn on you subject to Uniform Rules for Bank-to-Bank Reimbursements under Documentary Credits, ICC Publication No. 725 upon receipt of such draft presented by the Claiming Bank——The Industrial and Commercial Bank of China, Tianjin in accordance with the following:

  (1)Credit number: H169087

  (2)Currency and amount: USD25, 730. 00

  (3)Additional amounts payable: no

  (4)Claiming Bank: ICBC, Tianjin

  (5)Parties responsible for charges: beneficiary

  (6)Tenor of draft: maturity of accepted beneficiary's draft

  (7)Drawer: ICBC, Tianjin

  (8)Party responsible for acceptance commission: beneficiary

  3.

  beneficiary's draft

                             Due 3 August, 200×

  Exchange for USD25, 730. 00             Tianjin, 4 May, 200×

              At 90 days sight pay to the order of

                     Ourselves        the sum of

  US dollars twenty five thousand seven hundred and thirty only

  Drawn under Dresdner Bank, Hamburg L/C No. H169087 dated 15 April, 200×.

  To The Industrial and Commercial

  Bank of China, Tianjin             For China National Light

                          Industrial Products Imp.

                          & Exp. Corp., Tianjin

                          Branch, Tianjin

                               signature

                 ACCEPTED

                 5 May, 200×

                 to mature

                 3 Aug., 200×

                     For

                 The Industrial and

                 Commercial Bank of

                 China, Tianjin

                   signature

  4.Please fill the following particulars in two blank forms to write a Letter of Reimburse Claim and to issue a Time Draft:

  (1)Addressee or drawee: Bank of America, New York

  (2)Sender or drawer: The Industrial and Commercial Bank of China, Tianjin

  (3)Amount: USD25,730.00

  (4)Date of Letter of Reimbursement Claim and Draft: 24 July, 200×

  (5)Predetermined reimbursement date: 3 Aug., 200×

  (6)Payee: ICBC, Tianjin

  (7)Accounting procedure: crediting our Head Office account with you under your telex advice to us quoting our Ref. No. BP87654321.

  (8)Drawn clause: Drawn under Dresdner Bank, Hamburg L/C No. H169087 dated 15 April, 200×