CONDITIONS OF THIS CREDIT WE SHALL ACCEPT THE DRAFT AND REMIT THE PROCEEDS TO YOUR DESIGNATED ACCOUNT ON MATURITY.

. DISCREPANCY FEE OF USD50.00 OR ITS EQUIVALENT WILL BE DEDUCTED FROM THE PROCEEDS OF ANY DRAWING IF DISCREPANT DOCUMENTS ARE PRESENTED.

. THE AMOUNT OF EACH DRAWING MUST BE ENDORSED ON THE REVERSE OF THE CREDIT INSTRUMENT.

13

Letter of Credit 5

MT 700 ISSUE OF A DOCUMENTARY CREDIT

SENDER: KOOKMIN BANK (FORMERLY H AND CB), SEOUL RECEIVER: BANK O F CHINA, HANGZHOU SEQUENCE OF TOTAL FORM OF DOC. CREDIT DOC. CREDIT NUMBER DATE OF ISSUE APPLICABLE RULES DATE AND PLACE OF EXPIRY APPLICANT BENEFICIARY AMOUNT

AVAILABLE WITH/BY DRAFTS AT ... DRAWEE

PARTIAL SHIPMTS TRANSSHIPMENT PORT

OF

LOADING/

AIRPORT OF DEPARTURE PORT OF DISCHARGE LATEST SHIPMENT

DATE

OF

： 27： 1 / 1

：40A： IRREVOCABLE ： 20： M10R4203NU00032 ：31C： 020305

：40E： UCP LATEST VERSION

：31D： DATE 020403 PLACE AT THE NEGOTIATION BANK ： 50： ： 59：

G.S INTERNATIONAL CORPORATION

31-85, MOONHYUNI-DONG, NAM-GU, PUSAN, KOREA HANGZHOU TOOLS CO., LTD

NO.75 YAN’AN ROAD, HANGZHOU CHINA

：32B： CURRENCY USD AMOUNT 47.952. ：41D：

ANY BANK BY NEGOTIATION

：42C： 90 DAYS AFTER SIGHT ：42A： H AND CB, TOKYO BRANCH ：43P： ALLOWED ：43T： ALLOWED

：44E： NINGBO PORT, CHINA ：44F： PUSAN PORT, KOREA ：44C： 020327

MEN’S SHOES QUANTITY UNIT PRICE AMOUNT SL-400 4,320PRS USD6.00/PR USD25,920.00 MEN’S SANDAL

DESCRIPTION OF GOODS AND/OR SERVICES.

：45A：

SL-700 2,160PRS USD5.10/PR USD11,016.00 SL-700-1 2,160PRS USD5.10/PR USD11,016.00 TOTAL 8,640PRS USD47,952.00 ORIGIN: CHINA FOB NINGBO PORT

DOCUMENTS REQUIRED ：46A：

+ FULL SET OF CLEAN ON BOARD OCEAN BILLS OF LADING MADE OUT TO THE ORDER OF KOOKMIN BANK, KOREA

14

MT 700 ISSUE OF A DOCUMENTARY CREDIT

SENDER: KOOKMIN BANK (FORMERLY H AND CB), SEOUL RECEIVER: BANK O F CHINA, HANGZHOU

(FORMERLY H AND CB, KOREA) MARKED ‘FREIGHT COLLECT” AND NOTIFY ACCOUNTEE

ADDITIONAL COND

+ SIGNED COMMERCIAL INVOICE IN 3 FOLD + PACKING LIST IN 3 FOLD

+ CERTIFICATE OF ORIGIN IN 3 FOLD

BASIS AND ACCEPTANCE COMM AND DISCOUNT CHG ARE FOR APPLICANT’S ACCOUNT

ALL BANKING CHARGES/COMMISSIONS INCLUDING REIM

CHARGES

：71B： CHARGES FOR ：

48：

OUTSIDE

KOREA

ARE

FOR

ACCOUNT

OF

BENEFICIARY

PERIOD

PRESENTATION CONFIRMATION INSTRUCTION INFORMATION PRESENTING BANK

TO

WITHIN 21 DAYS AFTER DATE OF SHIPMENT, BUT WITHIN CREDIT VALIDITY

：47A： + BEN’S USANCE DRAFTS MUST BE NEGOTIATED AT SIGHT

： 49： WITHOUT ： 78：

+T/T REIMBURSEMENT IS NOT ALLOWED

+ALL DOCS EXCLUDING BEN’S DRAFTS ENDORSED BY NEGO BANK MUST BE DISPATCHED TO US (H AND CB), 9-1, 2-GA, NAMDAEMOON-RO,

JUNG-GU,

SEOUL,

100-703,

KOREA

(INTERNATIONAL OPERATIONS TEAM/FORMERLY H AND CB

BK)

+THE AMOUNT OF EACH DRAWING MUST BE NOTED ON THE REVERSE OF THIS CREDIT BY NEGOTIATING BANK

+REIMBURSE YRSELVES FROM DRAWEE BY FORWARDING BEN’S USANCE DRAFTS ON CONDITION THAT THE DOCS ARE COMPLIED WITH L/C TERMS

15

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