HAVE BEEN SENT
VIA OVERNIGHT COURIER WITHIN 48 HOURS AFTER SHIPMENT TO BAKER HUGHES OILFIELD
OPERATIONS INC., 2001 RANKIN ROAD HOUSTON, TEXAS 77073 ATTN: STEVE XXXXX, PHONE:
XXX-XXX-XXXX
+1/3 SET OF ORIGINAL MARINE/OCEAN BILL OF LADING PLUS 1 PHOTOCOPY OF THE
ORIGINAL COVERING A PORT TO PORT SHIPMENT CONSIGNED TO THE ORDER OF BAKER HUGHES
OILFIELD OPERATIONS INC.
2001 RANKIN ROAD
HOUSTON, TEXAS 77073
MARKED HUGHES OILFIELD OPERATIONS INC.
2001 RANKIN ROAD
HOUSTON, TEXAS 77073
INDICATING THE NAME OF THE CARRIER, AND INDICATING THE GOODS HAVE BEEN LOADED ON
BOARD OR SHIPPED ON A NAMED VESSEL AND MARKED FREIGHT PAYABLE AS PER CHARTER
PARTY.
ADDITIONAL CONDITIONS: CHARTER PARTY BILL OF LADING ACCEPTABLE.
THIS CREDIT IS TO BE NON-CUMULATIVE REVOLVING FOR THREE TIMES WITH DRAWINGS NOT
TO EXCEED THE MAXIMUM AMOUNT OF USDXXXXX +/- 5 PCT EACH LOT. THE AMOUNT
AVAILABLE FOR DRAWING SHALL BE REINSTATED TO MAXIMUM OF USDA +/- 5 PCT EACH LOT
AFTER DRAWING HAS BEEN SUCCESSFULLY PAID IN ACCORDANCE WITH SHIPMENT SCHEDULE.
(ANY UNUTILIZED BALANCE CANNOT BE ADDED TO EACH FRESH REINSTATED AMOUNT).
ICC PUBLICATION UCP 600 ARTICLE 32 DOES NOT APPLY. IF A SHIPMENT IS NOT EFFECTED
IN ACCORDANCE WITH THE SPECIFIED SCHEDULE, THE LC CEASES TO BE AVAILABLE FOR
THAT SHIPMENT ONLY.
SHIPPING DOCUMENTS INDICATING COMMINGLING OF PRODUCTS ARE UNACCEPTABLE
INSURANCE TO BE EFFECTED BY BUYER
SPECIAL NOTE TO BENEFICIARY:
WE DRAW YOUR ATTENTION OF THE FACT THAT THIS LETTER OF CREDIT REQUIRES A
DOCUMENT THAT NEEDS TO BE SUPPLIED BY THE APPLICANT. JPMORGAN CHASE BANK, N.A.
AND/OR ITS SUBSIDIARIES AND/OR ITS AFFILIATES, ASSUMES NO RESPONSIBILITY FOR:
I)THE APPLICANT'S WITHHOLDING OF SUCH DOCUMENT, II) ANY REQUIRED SIGNATURE
THEREON, III) ANY WAIVER OF SUCH REQUIREMENT, AND/OR IV) ANY RESULTING NON
PAYMENT OF AN OTHERWISE CREDIT CONFORMING PRESENTATION OF DOCUMENTS HEREUNDER.
ALL DOCUMENTS MUST BE PRESENTED IN ENGLISH.
ALL BANKING CHARGES OTHER THAN THOSE OF THE ISSUING BANK ARE FOR THE ACCOUNT OF
THE BENEFICIARY.
ANY FEES ASSOCIATED WITH ADVISE OF REFUSAL, PAYMENT REFUSAL/REJECTION AND/OR
PAYMENT WILL BE DEDUCTED FROM THE PROCEEDS. THIS STATEMENT IS NOT TO BE
CONSTRUED TO MEAN THAT DOCUMENTS WITH DISCREPANCIES WILL BE HONORED BY US. IN
THE EVENT OF OUR PAYMENT DESPITE DISCREPANCY(IES), IT MUST NOT BE CONSTRUED AS
WAIVER OF SIMILAR DISCREPANCY(IES) ON FUTURE DRAWINGS.
DOCUMENTS MUST BE SENT TO US IN ONE LOT VIA COURIER.
UPON RECEIPT OF DOCUMENTS IN COMPLIANCE WITH THE TERMS OF THE LETTER OF CREDIT
WE WILL REMIT PROCEEDS WHEN DUE AS INSTRUCTED.
THIS CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY
CREDITS, INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION 600.
IN THE EVENT A NOMINATED BANK HAS FORWARDED DOCUMENTS TO US AND SUCH DOCUMENTS
ARE LOST IN TRANSIT AS STATED IN UCP 600 ARTICLE 35, WE RESERVE THE RIGHT TO
DELAY HONOUR OF THE PRESENTATION UNTIL OUR RECEIPT OF PHOTOCOPIES (FRONT AND
BACK) OF ALL REQUIRED DOCUMENTS SHOWING SIGNATURES AS ORIGINALLY REQUIRED UNDER
THE LETTER OF CREDIT, OR UNTIL RECEIPT OF SIGNED DUPLICATE ORIGINALS PLUS COPIES
OF DOCUMENTS, ARE EXAMINED AND FOUND TO