APPLICATION FOR TRANSFER OF A DOCUMENTARY CREDIT

To Allied Irish Banks plc
Trade Finance Services
ABN Amro House,
IFSC,
Dublin 1
Tel (01) 6093868

Date: / /

(Details of Original Letter of Credit)

(Details for Transfer of L/C to second beneficiary)

(A) We hereby irrevocably request and authorise you to transfer and advise the above Documentary Credit to

(Name and address of bankers of second beneficiary)

In favour of:

(Full name and address of second beneficiary)

ON THE SAME TERMS AND CONDITIONS, EXCEPT

  1. Our name and address is to be substituted for that of the applicant mentioned above.
  2. The amount of the transfer is to read (in words and figures):
    Figures:
    Words:
  3. The quantity of goods (if applicable) is now to read:

  4. The unit price(s) (if applicable) is now to read:

  5. The transferred letter of credit is to expire on / / at the counter of AIB
  6. The latest date for shipment (if applicable) is now to read / /
  7. The documents are to be presented within days from the date of issuance of the Transport document.
  8. The percentage for which Insurance cover (if applicable) is to be effected is %

(B) Prior to expiry and within the constraints of the original Documentary Credit we undertake and agree to deliver to you our Commercial Invoices and Drafts, if necessary, drawn in accordance with the original Letter of Credit terms in order that these documents may be substituted for the transferee's Commercial Invoices and Drafts, if required, which are to be delivered to us together with, after successful drawdown under the original Letter of Credit, your payment for the difference between the two Commercial Invoices, less any charges due to you. Should we fail to deliver to you our Commercial Invoices and any other documents you are authorised to forward the Commercial Invoices and other documents of the transferee to your Principals without responsibility on your part for payment of any difference between the amount of the transferee's drawing and the amount authorised to be paid under the original credit.

(C) Neither you nor your correspondents shall be responsible for the description, quantity or value of the merchandise shipped under the transferred credit, not for the correctness, genuineness or validity of the documents, nor for any loss or damage that may arise in consequence of delay in transmission of your correspondent's message(s), or misinterpretation thereof or from any cause beyond your or their control

(D) We irrevocably agree to pay your transfer/confirmation charges at time of transfer/confirmation and enclose our cheque/authorise you to debit our account
Number at AIB Bank with EUR in settlement

(E) We irrevocably agree that you deduct from the proceeds under this Letter of Credit or claim direct from us any other charges owing to yourselves or your agents in connection with this Letter of Credit.

(Please tick whichever of (F) or (G) is applicable)
(F) We irrevocably agree to allow you as transferring bank to advise amendments to the second beneficiary(ies)
OR
(G) We retain the right to refuse to allow you as transferring bank to advise amendments to the second benficiary(ies)

Yours Fathfully,

__________________________ Authorised Signatory __________________________ Authorised Signatory

On Behalf of:

(N.B. The signatures appearing on this application must be signed in accordance with your account mandate, and be verified by your Bankers, who should also sign (must be an authorised signatory) and stamp this application)

INTERNAL USE (Applicant should not complete this portion)

Sanctioning Authority:    Branch  ——        Corporate ——- Sanctioned: ———————————