From: Bank of ××Fuzhou, China

       To: Bank of ××London, UK

       Date:Fab.1,20××

       We open an Irrevocable Credit No.001 in favour of: ××Company, Limited, London for account of: China ××I/E Corporation, to the extent of: USD50 000(US dollar Fifty Thousand, 5% less is allowed).This Credit is available by beneficiary's drafts, drawn on us, in duplicate, at sight, for 100% of the invoice value, and accompanied by the following documents:

       --Full set of clean “on Board”,“ freight prepaid” Ocean Bill of lading, made out to order and blank endorsed, marked“notify China National Foreign Trade Transportation Corporation, at the port of destination.”

       --Invoice in quintuplicate, Contract No.& CreditNo.,20 metric tons(5%less is allowed) of 1 000kilso net each of chemicals, purity 90-99%,USD2.50 per kilo net CIF Shanghai including packing charges.

       --Weight Memo indicating gross and net weight of each package in quadruplicate.

       --Certificate of Quality in four copies issued by the manufactures.

       --Insurance Policies(or Certificate)in duplicate covering Marine ICC(A)for full CIF invoice value plus 10%.

       --Certificate of Origin: United Kingdom.

       --Packing List: Packed in seaworthy new steel drums.

       Shipment from UK port to Fuzhou. Partial shipment is not allowed. Transshipment is allowed, through B/L required. Shipment to be made on or before February 15,20××.

       This Credit is valid in London on or before February 30, 20××,for negotiation and all drafts drawn hereunder must be marked“drawn under Bank of××Fuzhou China ,Credit No.001 ”.

       Amount of drafts negotiated under this credit must be endorsed on the back hereof.

       Disposal of Documents: It is a condition of this credit that the documents should be forwarded to us by two consecutive airmails, the firs mail consisting of all documents except one of each items, if more than one, to be sent by second mail.

       Special Conditions:

       We hereby engage with the drawers, endorsers and bona fide holders of bills drawn and presented in accordance with the term of this credit that the bills shall be duly honored on presentation.

This credit is subject to ICC Uniform Customs and Practice for Documentary Credits(1993revision).