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MORGAN GUARANTY TRUST BANK International Banking Division 23 Wall Street, New York, NY 10015

2. . Commercial Invoice in triplicate, describing the merchandise as indicated belowConsular Invoice in triplicate, all signed and stamped by the Consul of Venezuela

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MORGAN GUARANTY TRUST BANK International Banking Division 23 Wall Street, New York, NY 10015

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    1. 1 MORGAN GUARANTY TRUST BANK International Banking Division 23 Wall Street, New York, NY 10015 Ameriko Industries Company February 1, 20XX 29 Bleecker Street On all communication, please refer to New York, NY 10012 our Advice No.152647   Dear Sirs:   We are instructed to advise you of the establishment by Bank of South America, Puerto Cabello, Venezuela, of their IRREVOCABLE Credit No. 19845 in your favor, for the account of John Doe, Puerto Cabello, Venezuela, for U. S. $30,000.00 (THIRTY THOUSAND U. S. DOUARS), available upon presentation to us of your draft at sight on us for 100% of invoice value, accompanied by:

    2. 2 Commercial Invoice in triplicate, describing the merchandise as indicated below Consular Invoice in triplicate, all signed and stamped by the Consul of Venezuela   Packing List in triplicate   Marine Cargo Insurance Policy with All Risks coverage for 110% of the CIF invoice value, endorsed in blank, covering war and marine risks.   Full set of clean on board ocean Bill of Lading, made out to the order of the Bank of South America, Puerto Cabello, stamped by Venezuelan Consul and marked “Freight Prepaid.” Shipments shall be made not later than March 21, 20XX.   Evidencing shipment of A MACHINE FOR SEALING CANS, CIF Puerto Cabello, from United States port to Puerto Cabello, Venezuela.    

    3. 3 Documents must be presented within 10 days after the date of issuance of the bill of lading or other shipping documents. Except as otherwise expressly stated herein, this credit is subject to the Uniform Customs and Practice for Documentary Credit (1993 revision), International Chamber of Commerce Publication No. 500. The above bank engages with you that all drafts drawn under and in compliance with the terms of this advice will be duly honored if presented to our Commercial Credits Department, 15 Broad Street, New York, NY 10015, on or before March 31, 20XX on which date this credit expires.   We confirm the foregoing and undertake that all drafts drawn and presented in accordance with its terms will be duly honored. Yours very truly,   Authorized Signature      

    4. 4 1. Who issued the letter of credit? 2. Is it irrevocable? 3. Has it been confirmed? 4. If so, by whom? 5. Who is the buyer? 6. Who is the seller? 7. What kind of draft is to be presented? 8. What documents are required? 9. What are the terms of sale? 10. What insurance coverage is required? 11. When does the letter of credit expire? 12. Where does the seller go for payment? 13. Who pays the freight? 14. Who pays the marine insurance? 15. Must the steamship company attest that the merchandise has been loaded on ship? 16. What is the reason for your answer to question 15? 17. When is the latest(last) date for the shipment? 18. How many days does the seller have to present documents after shipment?    

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