RECEIVED from the shipper named on the reverse side hereof the goods or packages
said to contain goods hereinafter mentioned, in apparent good order and condition
unless otherwise indicated in this bill of lading, to be transported from the port ofloading with liberty to proceed via any route or ports within the scope of the voyage, tothe port of discharge, or so near thereto as the ship can safely get and named on thereverse side hereof for any cause, or, having been loaded, are discharged for any
purpose at a port other than named port of discharge, the carrier shall have liberty toforward them under the terms of this bill of lading on the next available ship of this line,
or, at carrier’s option of any other line, Cargo may be landed on docks or placed inlighters at intermediate ports for the purpose of restowing the cargo or loading othercargo.

1. (Paramount Clause) : This Bill of Lading shall have effect subject to the Hague
Rules(except Article IX gold value clause) contained in the International
Convention for the Unification of Certain Rules relating to bills of lading, dated
at Brussels of 25 August 1924 as Rules, the Hague Rules (except Article IX gold
value clause) as enacted in the country of destination shall apply to this Bill of
Lading. When no such legislation is in force in the country of destination, theterms of the Hague Rules (except Article IX gold value clause) shall beconsidered to be incorporated in this Bill of Lading.
2. (Definition) : In this bill of lading, the following words both on the front and backhave the meaning hereby assigned : (a) “Carrier” signifies the DongJin ShippingCo., Ltd. and, where appropriate, the ship, her owner, the charterer or any
substituted carrier : (b) “Shipper” includes the person named as such in this billof lading and the person for whose account the goods are shipped : (c)“consignee” includes the holder of the bill of lading, properly endorsed, and thereceiver and the owner of the goods : (d) “Ship” includes any substituted ship,
any craft, lighter or other means of conveyance owned, charter or operated by
the carrier used in the performance of this contract : (e) “Charges” includes
freight and all expenses and money obligations incurred and payable by thegoods, shipper, consignee, or any of them.
3. (Governing Law and Jurisdiction) : Unless otherwise herein expressly provided,
the contract evidenced by this bill of lading shall be construed and governed by
Korean law and any dispute arising out of the contract contained in orevidenced by this bill of lading shall be determined in Korea to the exclusion of

the jurisdiction of the courts of any other country.
4. (Period of Responsibility) : The carrier has no responsibility whatsoever for the
goods prior to the loading and subsequent to the discharge from the ship. Goodsin the custody of the carrier whether before loading and after discharge
whether being forwarded to or craft belonging to the carrier or not, or pendingtransshipment at any stage of the whole transport, are in such custody at thesole risk of the owners of the goods and the carrier shall not be liable for loss
or damage arising or resulting from any cause whatsoever.
5. (General Immunities) : Neither the ship nor the carrier shall be responsible forthe loss or damage to or in connection with goods arising or resulting from theact of God, perils, dangers or accidents of the sea or other navigable waters,
war, acts of war or enemies, contact with mines or other engines of war, arrestor restraint of princes, rulers, of people, seizure under legal process, civilcommotion, an act of default of the Suez or Panama Canal authorities, strikes,
lockouts, stoppage or restraint of labour from whatever cause, whether partial
or general, sabotage or other labour disturbances, combinations of workmen ofothers whether ashore or afloat, desertion of mariners, workmen or labourers,
barratry, misfeasance, embezzlement, risk of lighter or craft or act oftransshipment, collision, stranding, touching, wreck, quarantine, epidemics,
mobs, riots, pirates, robbers, thieves or pilferers by land or water, rising or
mutinyamong

passengers

and/orcrew,

jettison,fumigation,

or

the

consequences of any act or omission of the shipper and for owner of the goods,
his agent or representative, rain water of any kind, spray, snow, frost, ice,climatic effects, chemical action, fermentation, change of character, mould,
mildew, dampness, evaporation liquefaction, rust, decay, rotting, outward soilingof package, stain, country damage, injury caused by other cargo in contact
and/or smell from other goods, dust, coal dust, fuel oil, vermin, rats, wastage inbulk or weight, or any other loss or damage arising from inherent defect, quality
or vice of the goods, insufficiency of packing, inaccuracy, obliteration,
insufficiency, inadequacy or absence of marks, numbers, addresses anddescription of goods, number of pieces in bundles or broken bundles,
reasonable wear and tear of packing, leakage, ullage sweat, breakage, bending,cracking, checking, splitting, hook-holes, chafe, shrinkage, heat, heating, fire,or water, on board, in hulk, in craft or on wharf and/or shore-collapse, or
destruction of or damage to wharf, pier and/or their coverings, explosion, loss
or damage from machinery, boilers or steam however caused, latent or otherdefects prior to or at the time of shipment or the beginning of or during thevoyage or otherwise in hull, tackle, boilers or machinery or the appurtenances
not discoverable by due diligence, error in judgment, negligence or default ofpilot, master, officers, engineers, crew, stevedores or other persons in theservice of the ship and/or carrier whether in the navigation or in the
managements of the ship or otherwise.
6. (Unknown) : Weights, measurements, marks, numbers, quality, contents andvalue if mentioned in the bill of lading are to be considered unknown unless thecontrary has been expressly acknowledged and agreed to. The signing of thisbill of lading is not to be considered as such an agreement.
7. (Seaworthiness) : Neither the ship nor the carrier shall be liable for loss ordamage arising or resulting from unseaworthiness of the ship unless caused bywant of due diligence on the part of the carrier to make the ship seaworthy
before and at the beginning of the voyage.
8. (Quarantine) : In the event of quarantine or sanitary or other similar regulations
or restrictions whatsoever or wheresoever arising, the goods may bedischarged into any depot or lazaretto, bulk or other vessel as required for the
ship’s dispatch, or should this be impracticable, the master may discharge thegoods at a safe port of call, at his option, at the risk and expense of the shipper,
and the carrier’s responsibility shall cease when the goods are so discharged,
quarantine expenses of whatever nature or kind to be borne by the shipper.
9. (Port and Labour Restriction) : Should the port of destination be inaccessible on
account of ice, shallow water, blockade or interdict, or should entry into,
discharge and/or sailing from the port be deemed by the master as unsafe
and/or inadvisable, in consequence of sanitary, quarantine, customs, or labour
regulations, epidemics, lockouts, boycott, bad weather, congestion of port, war
or fear of war or warlike operation, disturbances or absences by any cause of
facilities for discharging or delivery, or any other cause whatsoever, the carrier
shall be at liberty, without notice, to return the goods to the port of shipment, or
to retain the goods on board until the ship’s return or other voyage, or todischarge and store the goods at any other port or place and thence to forward
the same to the port of destination by any available means by land or water, in
all cases at the sole risk of the shipper, who shall paly all extra freight, charges,
and expenses incurred, and always subject

to the terms and conditions which

may be required by the forwarding conveyance.
10. (War Risk Clause) : The carrier shall not be responsible for actual, attemptedcapture, seizure, detention, or for any direct or indirect consequence thereof
resulting from or in any way contributed to any state of declared or undeclared
war or warlike or belligerent acts. And in any such event, whether occurring or
anticipated, the carrier reserves the right to discharge the goods at thecarrier’s discretion at any port or place at the risk and expense of the shipper
and the carrier’s liability shall cease when the goods are so discharged. Without
prejudice to anything herein contained, the ship shall have the liberty to comply
with orders, directions or suggestions as to departure, arrival, route, ports ofcall, stoppage or otherwise however given by any government of publicauthorities and nothing done or not done by reason of any such orders,
directions or suggestions shall be deemed a deviation nor shall the carrier be
responsible for any loss, damage or expense resulting either directly or
indirectly therefrom, and delivery in accordance therewith shall be a fulfillmentof the contract voyage.
11. (Forwarding) : The carrier reserves the right of forwarding the goods to theirdestination by any ship or conveyance belonging either to this or any othercompany or individual , subject to all conditions which may be exacted by the
carrier of individual who may completed the transit ; the risk of transshipment ,landing , storing and reshipment to be borne by the shipper , but the expense to
be defrayed by the carrier . The cargo to be forwarded as soon as practicable
but the carrier not to be liable for any delay. if on arrival of the ship at the portof transshipment it is found that on carrying facilities to destination are notavailable the goods will be discharged at the port of transshipment, at the risk
and expense of the owners of the goods, where the ship’s responsibility shallcease. The responsibility of the carrier shall be limited to the part of thetransport performed by him on the ship under his management and no claim will
be acknowledged by the carrier for damage and / or loss arising any other partof the transport even though the freight for the whole transport has beencollected by him.
12. (Optional Delivery) : Optional delivery is only granted when arranged prior to
the shipment of goods , and is so expressed in the bill of lading , Consignee
desiring to avail themselves of the option so expressed must give notice to thecarrier’s agent at the first port of ship’s call named in the option at least 24
hours prior to the ship’s arrival there , otherwise goods will be landed at any of
the optional ports at the ship’s option and the carrier’s responsibility shall thecease.

13. (Discharge and Delivery) :The carrier retain the option of delivery at all

times from the ship’s side or from craft , hulk , customhouse , warehouse ,wharf or quay , in all cases at the risk of the shipper and all expense incurredby delivery otherwise than from ship’s side shall be borne by the shipper . If theconsignee is not ready to take delivery of the goods as soon as the ship isready to discharge them , or within such time as is provided the regulations of
the port, the carrier shall be at liberty to land and warehouse , or discharge thesaid goods into hulk or craft , or at any other suitable place , at the risk andexpense of the shipper , consignee , or owners of the goods without notice , andif the goods so discharged or warehoused be unclaimed 30 days or more after
arrival of the ship, then any and all liability of the carrier shall cease.
Demurrage for detention of ship, if caused by the consignee not taking delivery
as fast as the ship can discharge , to be paid by the shipper at the current rateof charterage , When the goods received or taken by customs or otherauthorities or by the operator of any lighter , dock , warehouse , elevator ofother facility , whether selected , by the carrier , sipper or consignee , andwhether public or private , such authority or operator shall be considered ashaving received possession and delivery of the goods solely as agent of and on
behalf of the shipper and consignee , at the risk and expense of the goods andsubject to any lien of the carrier thereon . Unless consignee’s tallyclerks checkthe goods in co-operation with the ship ’ s checkers the ship ’ s checker ’ schecking shall be accepted by the shipper and consignee as conclusive evidence.
14. (Over-carriage) : Goods overcarried to be returned , and goods shortlanded to
be forwarded to the destination by land or sea at the carrier ’ s option and
expenses , but the carrier to be free and from liability for any loss , delay ,depreciation or damage , or for loss of market .
15. (Marks and Descriptions) : The carrier shall not be liable for incorrect delivery
or delay in delivery unless each package shall have been distinctly andpermanently marked by the shipper before shipment with the name of the port
or place of destination. All fines and expenses and/or losses by destination of
the ship and/or cargo caused by insufficiency, inadequacy or incorrectness ofthe marks or by incomplete or incorrect description of contents or weight orother particulars required by the authorities at the port or place of destination
or at any place during transit, upon either the packages or the bill of lading shallbe borne by the shipper.
16. (Goods on deck , perishable Goods , Livestocks , etc) : Goods carried on deck ,livestocks : fruits , vegetables , fish and all perishables goods, and glass ,crockery or castings or any articles of a fragile nature , or goods in bales orcrates , or unprotected pieces are accepted solely at the risk of the shipper ,and the carrier shall be under no liability for any loss or damage thereto ,however , caused . All the conditions and exceptions contained in this bill of
lading shall also apply to livestocks, or the goods carried on deck and statedherein to be so carried .
17. (Dangerous Goods , Contraband Goods) : If any goods of an inflammable ,explosive , damaging , or dangerous nature be shipped without previous
declaration and arrangement , or if any goods, be shipped which are contrabandor prohibited by the laws or regulations of the port of shipment , discharge orcall or any place during transit such goods , upon discovery may be rendered
innocuous , thrown overboard , or be discharged at any port to place or beotherwise dealt with according to the master discretion without any liability
attaching to ship and/ or damage to the ship , carrier , crew and / or cargo , andall responsibility direct or indirect whatsoever shall fall upon the shipper,consignee and / or owner of the goods . The freight on said goods shall becalculated as per the basis set forth in articles. 25. It is further mutually agreed
if any such goods shipped with such previous declaration and arrangement shallbecome a danger to the ship or cargo, they may in like manner be landed at any
place or destroyed or rendered innocuous or thrown overboard without any
liability on the part of carrier.
18. (Heavy Lift) : Single piece or package exceeding one ton gross in weight shallbe liable to pay extra charges in accordance with tariff rates in effect at time of
shipment for loading, handling , transshipping or discharge and the true weightor each such piece or package shall be declared in writing by the shipper before
shipment and clearly and durably marked on the outside of the piece or package.
The shipper, consignee and /or owner of the goods shall be liable for, and shallindemnify the carrier in respect of any injury, loss, damage, cost or expense
arising directly or indirectly from shipper’s failure to declare and mark the true
weight of any such piece or package having been declared or marked thereon.
19. (Bagged Goods) : If the packing of the goods shall become damaged or loosenedin part or in whole during the transit, and in the judgment of the master or
carrier , be insufficient for further transportation , the ship and/or the carrier
are at liberty to repack , recondition , resew or recooper the same at theexpense of the shipper , consignee and/or owner of the goods.

20. (Special Heating, Cooling and Ventilation) : The carrier shall not undertake tocarry any goods in refrigerated or specially cooled , airconditioned , heated orventilated compartments , and shall not be liable for any loss or damage for
failure to do so unless such carriage is expressly agreed in advance andstipulated for herein.
21. (Valuable Goods) : The carrier shall not be accountable for gold , silver ,currency , documents , negotiable writings , specie , jewelry , precious stones ,precious metals , pictures , embroideries , and works of are , or any valuable ofany amount whatsoever , unless ad valorem freight has been paid and the bill of
lading signed with the value and contents declared therein.
22. (Lumber and Timber) : The carrier shall not be responsible on lumber or timber
shipments for number of pieces in bundle , or broken bundles , not for splits ,cracks , flaws , breakage , or discoloration.
23. (Iron and Steel) : In case of iron and steel , angles , bars , channels , etc ,shipped loose or in bundles , the carrier shall not be responsible for correct
delivery , and all expense incurred at port of discharge consequent uponinsufficient securing or making will be payable by the shipper unless: a) every
piece is distinctly and permanently marked with oil paint , b) every bundle issecurely fastened , distinctly and permanently marked oil paint and metaltagged , so that each piece or bundle can be distinguished at port of discharge.
24. (Cotton) : The shipper represents and warrants to the carrier that torn orinsufficient coverings and rusty bands are conditions common and usual to all
baled cotton delivered for shipment and give no indication of actual or apparent
bad order or condition of such bales or of any damage to contents , Each person
accepting this bill of lading agrees the description herein of the apparent orderand condition of such bales does not relate to , and the carrier shall not beliable for any damage resulting from , such common and usual conditions.
25. (Freight and Charge): Freight shall be payable on actual gross intake weight ormeasurement or, at the carrier`s option, on actual gross discharged weight ormeasurement, Freight may be calculated on the basis of the particular goods
furnished by the shipper herein but the carrier may at any time open the
packages and examine, weight, measuring and value the goods. In caseshipper`s particulars are found to be erroneous and additional freight is payable,
the goods shall be liable for any expense incurred for examining, weighting,measuring and valuing the goods. Full freight shall be paid on damaged or
unsound goods. Full freight hereunder to port of discharge named herein shallbe considered completely earned on shipment whether the fright be stated orintended to be prepaid or to be collected at destination: and the carrier shall beentitled to all freight and charges due hereunder, whether actually paid or not,and to receive and retain them irrevocably under all circumstances whatsoever
ship and/or cargo lost or not lost or the voyage broken up or abandoned. If
there shall be a forced interruption or abandonment of the voyage at the port of
shipment of elsewhere, any forwarding of the goods or any part thereof shall beat the risk and expense of the goods, The payment of freight and/or charges
shall be made in full and without any offset, counterclaim or deduction in thecurrency named in the bill of lading or at the option of the carrier in othercurrency at the banker`s highest telegraphic transfer selling rate of exchange
current on the ship`s entry at the Custom House of her port of discharge.
26. (lien): the carrier shall have a lien upon the goods for fright, dead fright,
demurrage or loss caused by detention, average contribution, salvage, and forall payments made and liabilities incurred in respect of any charges or
expenditures stipulated herein to be borne by the shipper; the carrier may
enforce such lien by public or private sale with or without notice or by legal
proceedings, the cost of such enforcement being for the account of the shipper.
27. (Claim): The carrier shall not be liable for any claim unless the notice thereof
be given in writing to their agent at the place of delivery at the time of removalof the goods from the custody of the carrier, or, in the event of non-delivery,
within three days after the day on which the ship arrived or should have arrived
at the port of discharge, and unless written particulars of such claim shall bepresented within thirty days after receipt of the notice herein provided for. The
notice in writing need not be given if the state of the goods has, before or at thetime of their delivery, been the subject of joint survey or inspection in whichcase proper notation of loss or damage made on the certificate or similar
document shall constitute the notice herein required. No suit shall be maintained
unless instituted within one year after the day on which the ship arrived, orshould have arrived, at the port of discharge, notwithstanding any provision oflaw of any country or state to the contrary. All claims for which the carrier may
be liable shall be adjusted and settled on the value declared by the shipper oron the net invoice cost plus disbursements, whichever shall be the least. The
carrier shall have the option of replacing any lost damaged goods.
28. (Limit of Liability) : The carrier shall in no event be or become liable for any
loss of or damage to the goods in an amount exceeding One Hundred PoundsLawful English Money(￡100stg.) per package or unit, unless the value of thegoods higher than this amount is declared in writing by the shipper before
shipment and the nature and the value thereof inserted in the bill of lading andextra fright is paid as agreed upon. In such case, even if the actual value of thegoods per package unit exceeds such declared value, the value shallnevertheless the deemed to be declared value. The carrier`s liability shall not
exceed such agreed or declared value, as the case may be, and any partial loss
or damage shall be adjusted pro rata on the basis of such value. The limitationof liability and other provisions contained in this paragraph shall inure not only
the benefit of the carrier, but also to the benefit of any independent contractor
performing services including stevedoring in connection with the goods coveredby this bill of lading.
29. (General Average): General Average to be adjusted in or at any port or place at
carrier`s option and to be settled according to York-Antwerp Rules, 1974 as
amended 1990. For this purpose the cargo owners are bound to declare, if
required the value of the goods, Such deposit as the carrier of his agent without
prejudice, may deem sufficient to cover the estimated contribution of the goods
and any special charges thereon shall, if required, be paid to the carrier or his
agent prior to delivery and will be placed on trust-account in a bank in the joint
names of the carrier and of a trustee for the cargo owner, in calculating General
Average contribution, freight to be added to the value of the goods.
30. (New Jason Clause) : In the event of accident, danger, damage or disaster
before or after the commencement of the voyage, resulting from any cause
whatever, whether due to negligence or not, for which, or for the consequenceof which, the carrier is not responsible, by statute, contract or otherwise thegoods, shippers and consignees or owners of the goods shall contribute with thecarrier in General Average to the payment of any sacrifices, losses or expensesof General Average nature that may be made or incurred, and shall pay salvage
and special charges incurred in respect of the goods, if a salving ship is owned
or operated by the carrier, salvage shall be paid for as fully as if the said
salving ship or ships belonged to strangers. Such deposit as the carrier may
deem sufficient to cover the estimated contribution of the goods and any
salvage and special charges thereon shall, if required, be made by the goods,
shippers, consignees or owners of the goods to the carrier before delivery.
31. (Both to Blame Collision Clause): If the ship comes into collision with anothership as a result of the negligence of the other ship and any act, neglect ordefault of the master, mariners, pilot or the servants of the carrier in thenavigation or in the management of the ship, the owners of the goods carried
hereunder will indemnify the carrier against all loss or liability to the other or
non-carrying ship or her owners in so far as such loss or liability represents
loss of, or damage to, or any claim whatsoever of the owners of the said goods,
paid or payable by the other or non-carrying ship or her owners to the ownersof the said goods and set-off, recouped or recovered by the other or noncarrying ship or her owners as part of their claim against the carrying ship orthe carrier. The foregoing provisions shall also apply when the owners,
operations or those in charge of any ship or ships or objects other than, or in
addition to, the collision ships or objects are at fault in respect of a collision orcontact.
32. (Notification) : Any clause hereon giving names of parties who desire to be
notified of ship`s arrival at destination is solely for the information of ship`s
agents and failure to notify shall not involve the carrier in any responsibility
whatsoever, or relieve the receiver and/or consignee from any obligation
hereunder.
33. (Canal Clause) : The carrier shall not be liable for loss, damage or delay causedby any obstruction of the Suez or Panama Canal, or the non-operation or
closing of the same ; and in the event of such obstruction, or to reship,transship, or forward all or any part of the goods by rail or any otherconveyance and all storage charges in connection there with and extra frightshall be for the account of the shipper and have a lien upon the goods, or to sailthe ship via any other route whatsoever, additional freight therefore being paidby the shipper.
34. (Surrender of Bill of Lading): This bill of lading duty endorsed shall thesurrendered in exchange for release or delivery order if required by the carrier,his servants or agents.
35. (Local Clause) : (Cargo to or from U.S.A) : As regards goods moving to andfrom U.S.A. this bill of lading shall have effect subject to the provisions of the
Carriage of Goods by Sea Act of the United States approved April 16, 1936. The
carrier shall be entitled to all of the rights and immunities set forth in 송 said
Act, and to the extent that any terms of this bill of lading is repugnant to or
inconsistent with anything in such Act, it shall be void.
36. (Exemptions and immunities for servants and agents of the carrier.) The servant
or agent of the carrier (including every independent contractor form time totime employed by the carrier) shall not in any circumstances whatsoever be
under any liability whatsoever to the shipper, consignee or owner of the goods
or to any holder of this bill of lading for any loss of or damage to or inconnection with the goods, arising or resulting from any act, neglect or default
on his part while acting in the course of or in connection with his employment
and but without prejudice to the generality of the foregoing provisions in thisclause, every exemption limitation, condition and liberty herein contained andevery right exemption from liability defence and immunity of whatsoever natureapplicable to the carrier or to which the carrier is entitled hereunder shall also
be available and shall extend to protect every such servant or agent of thecarrier as aforesaid and for the purpose of all the foregoing provisions of thisclause the carrier is or shall be deemed to be acting as agent or trustee on
behalf of and for the benefit of all persons who are or might be his servant or
agents from time to time (including independent contractor as aforesaid) and allsuch persons shall to this extent be or be deemed to be parties to the contract
in or evidence by this Bill of Lading.