Corrected SBLC Draft

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27: SEQUENCE OF TOTAL *** 1/1

20: TRANSACTION REFERENCE NUMBER *** TBA

23: FURTHER IDENTIFICATION *** ADV

30: DATE XXXXXX

40C: APPLICABLE RULES *** OTHR ***

77C: TYPE OF SBLC *** IRREVOCABLE

31D: DATE OF EXPIRY

XXXX (366 DAYS FROM ISSUANCE DATE)

32B: UNDERTAKING AMOUNT

CURRENCY: USD

AMOUNT: 200,000,000.00

52D: ISSUING BANK NAME: BANK NAME. SWIFT CODE: XXXXXX,  BRANCH ADDRES: XXXX

50: APPLICANT *** ABC LIMITED *** ADDRESS: TBA *** IBAN: TBA

59: BENEFICIARY:

BENEFICIARY COMPANY NAME: XXXXXXXXXX
COMPANY ADDRESS: XXXXXX

56A: ADVISING BANK:

SWIFT CODE OF BENEFICIARY BANK : XXXXX
BENEFICIARY BANK NAME: XXXXXX

BENEFICIARY BANK ADDRESS: XXXXXX

BENEFICIARY ACCOUNT NUMBER: XXXXXX

71D: CHARGES: ANY CHARGES OUTSIDE ISSUER ARE FOR BENEFICIARY ACCOUNT AND *** MAY NOT BE WAIVED.

77C: DETAILS OF SBLC:

SBLC NO. XXXXX/100/SBLC/XXXX

DATE OF ISSUE: XXXXX)

DATE OF EXPIRY: XXXXX (366 DAYS FROM ISSUANCE DATE)

77U: UNDERTAKING TERMS AND CONDITIONS :

PURPOSE OF SBLC: TRADING. (OIL AND GAS, PETROLEUM PRODUCTS)

79: NARRATIVE:

APPLICANT:  SBLC ISSUING COMPANY NAME: XXXXX

ADDRESS: XXXX

BENEFICIARY: BENEFICIARY COMPANY NAME: XXXXXX.

ADDRESS: XXXXXX

AT THE REQUEST OF THE ABOVE APPLICANT, AND FOR ITS ACCOUNT, WE ( ABC BANK LIMITED XXX – COUNTRY NAME XXXX, SWIFT CODE: XXXXXX, ADDRESS,  HEREBY OPEN IN YOUR FAVOUR OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. XXXXX/100/SBLC/XXXX THE BENEFICIARY SHALL NOT BE OBLIGED TO SHOW REASON OR GROUNDS FOR MAKING A DEMAND UNDER THIS LETTER OF CREDIT AND OUR LIABILITY TO MAKE PAYMENT TO THE BENEFICIARY SHALL BE ABSOLUTE, IRREVOCABLE AND UNCONDITIONAL UPON RECEIPT OF DEMAND FROM THE BENEFICIARY UNLESS AND OTHERWISE IF BORROWER HAS SHIPPED GOODS MENTIONED IN THIS SBLC:

COVERAGE: DELIVERY OF 2,00,000 METRIC TONS (+/-15%) OF DIESEL EN590 10 PPM FOB FUJAIRAH/JURONG BETWEEN (ISSUING DATE OF SBLC – EXPIRY DATE OF SBLC (BOTH DATES INCLUSIVE).

TOTAL INVOICE AMOUNT: USD 200,000,000.00 (TWO HUNDRED MILLION UNITED STATES DOLLARS) AS PER THE SHIPPING TERMS OF THE CONTRACT NUMBER:  XXXX200M8625XXX, DATED: XXXXX (MAY 19, 2026) SIGNED BETWEEN APPLICANT AND BENEFICIARY.

FOR THE AVOIDANCE OF DOUBT, WE CLARIFY THAT OUR OBLIGATION TO MAKE PAYMENT FOR THIS STANDBY LETTER OF CREDIT IS FOR AN AMOUNT OF USD 200,000,000.00 (TWO HUNDRED MILLION UNITED STATES DOLLARS) AND IS AVAILABLE FOR PAYMENT AT OUR COUNTERS AT SIGHT AGAINST THE FOLLOWING ORIGINAL DOCUMENTS:

1) SIGNED COMMERCIAL INVOICE IN 1 ORIGINAL AND 03 (THREE) COPIES. QUANTITY AND PRICE OF GOODS WILL BE DETERMINED AS FOLLOWS:

1. THE INVOICE QUANTITY OF THE PRODUCTS TO BE DELIVERED SHALL BE DETERMINED BY THE INDEPENDENT INSPECTOR LIKE SGS BY MEASUREMENT OF VESSELS TANK IMMEDIATELY UPON HER ARRIVAL AT OUTER ANCHORAGE (HEREINAFTER REFERRED AS “SHIP ARRIVAL FIGURE”) .IN THE EVENT OF SHIP ARRIVAL FIGURE IS MORE THAN BILL OF LADING FIGURE, THE PAYMENT WILL BE BASED ON BILL OF LADING QUANTITY, IF THE SHIP ARRIVAL FIGURE IS LESS THAN BILL OF LADING FIGURE, THE SHIP ARRIVAL FIGURE AS DETERMINED BY INDEPENDENT INSPECTOR SHALL BE THE INVOICE QUANTITY: FOR PAYMENT PURPOSES. IN THE EVENT THAT SHORTAGE OF SHIP ARRIVAL FIGURE VERSUS BILL OF LADING FIGURE IS MORE THAN 0.3 PCT THE VESSEL’S EXPERIENCE FACTOR (VEF) SHALL APPLY (IF APPLICABLE) TO ASCERTAIN THE INVOICE QUANTITY. THE INVOICE QUANTITY SHALL NOT EXCEED BILL OF LADING QUANTITY IN ANY MANNER.

1. CARGO PRICE: GASOIL 10PPM QUOTATIONS AS PUBLISHED IN PLATTS AP/AG MARKETSCAN UNDER FOB ARAB GULF / PLATTS SINGAPORE MOPS CENTERING B/L DATE PLUS A FIXED PREMIUM OF USD 8 /BBL FOR GASOIL 10PPM). IN CASE THERE IS NO QUOTATION ON B/L DATE,3 QUOTATIONS PRIOR AND 2 QUOTATIONS AFTER B/L DATE TO APPLY.THE PRICE SHALL BE EXPRESSED TO TWO (2) DECIMAL PLACES AS FOLLOWS:

1. a) IF THE THIRD DECIMAL PLACE IS FIVE (5) OR GREATER, THE SECOND DECIMAL PLACE SHALL BE ROUNDED UP TO THE NEXT NUMERICAL DIGIT AND

1. b) IF THE THIRD DECIMAL, PLACE IS LESS THAN FIVE (10) PCT THE SECOND DECIMAL PLACE SHALL REMAIN UNCHANGED.

1. C) INSURANCE POLICY NO. XX DATE XXX AND COUNTRY OF ORIGIN OF GOODS MUST BE MENTIONED IN COMMERCTAL INVOICE.

2) 3/3 ORIGINAL PLUS 3 NON-NEGOTIABLE COPIES OF BILL OF LADING, MADE OUT OR ENDORSE TO THE ORDER OF LC ISSUING BANK, MARKED FREIGHT PAYABLE AS PER CHARTER PARTY, NOTIFY (THE CONSIGNEE)

3) COPIES OF CERTIFICATE OF QUALITY & QUANTITY AND/OR THE INDEPENDENT INSPECTOR’S (SGS) QUALITY REPORT AT THE LOADING PORT / DISCHARGE PORT ( Q&Q PORT SELECTION AS PER APPROVAL BY SELLER)

4) CERTIFICATE OF ORIGIN FROM THE CONCERNED CHAMBER OF COMMERCE OF THE EXPORTING COUNTRY MENTIONING THE COUNTRY OF ORIGIN OF GOODS.

ADDITIONAL CONDITIONS:

1. ALL BANK CHARGES ARE FOR THE ACCOUNT OF THE APPLICANT.

2. ABOVE DOCUMENTS PRESENTED BY DHL/FEDEX IS ACCEPTABLE.

3. THIS STANDBY LETTER OF CREDIT SHALL TAKE EFFECT IN ACCORDANCE WITH ITS TERMS BUT SUCH TERMS SHALL NOT ALTER, ADD TO OR IN ANY WAY AFFECT THE AGREEMENT BETWEEN SBLC BENEFICIARY SINGAPORE YONGSHENG ENERGY INVESTMENT PTE. LTD. AND SBLC APPLICANT ABC LIMITED TO WHICH THIS STANDBY LETTER OF CREDIT RELATES.

4. THE CONSTRUCTION, VALIDITY AND PERFORMANCE OF THIS STANDBY LETTER OF CREDIT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH ENGLISH LAW. ANY DISPUTE OR CLAIM ARISING OUT OF OR IN CONNECTION WITH THIS STANDBY LETTER OF CREDIT SHALL BE SUBJECT TO THE EXCLUSIVE JURISDICTION OF THE ENGLISH COURTS.

5. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED HEREIN, THIS STANDBY LETTER OF CREDIT IS SUBJECT TO THE [UNIFORM CUSTOMS AND PRACTICES FOR DOCUMENTARY CREDITS 2007 REVISION (ICC PUBLICATION NO. 600)] [INTERNATIONAL STANDBY PRACTICES 1998 (ISP98)].

6. THE VALUE OF THIS STANDBY LETTER OF CREDIT MAY ESCALATE/DE-ESCALATE ABOVE OR BELOW THE TOLERANCES ALLOWED WITHOUT ANY AMENDMENT ON OUR BEHALF.

7. PARTIAL AND MULTIPLE DRAWINGS ARE PERMITTED.

8. BENEFICIARY MAY DRAW UNDER THIS STANDBY LETTER OF CREDIT AGAINST PROVISIONAL INVOICE BASED ON PRICE QUOTATION ON [NOR/BL] DATE. IF NO QUOTATION IS PUBLISHED ON THE DATE OF [NOR/BL], THE PROVISIONAL INVOICE TO BE BASED ON THE QUOTATION PUBLISHED IMMEDIATELY PRECEDING THE DATE OF [NOR/BL]. BALANCE PAYMENT TO BE AFFECTED UNDER THIS SBLC WITHIN 3 LONDON BANKING DAYS AGAINST PRESENTATION OF FINAL INVOICE IF THE AMOUNT OWED IS IN BENEFICIARY’S FAVOUR. IF THE BALANCE OF THE PAYMENT IS IN THE APPLICANT’S FAVOUR PAYMENT TO BE AFFECTED OUTSIDE OF THE STANDBY LETTER OF CREDIT.

9. ANY DISCREPANCY RESULTING FROM THE INVOICED QUANTITY EXCEEDING OR FALLING BELOW THE QUANTITY RANGE ALLOWED IN THIS STANDBY LETTER OF CREDIT IS ACCEPTABLE. PAYMENT WILL BE AFFECTED ON THE INVOICED QUANTITY IN CASE THE MAXIMUM QUANTITY ALLOWED IN THIS LETTER OF CREDIT IS NOT EXCEEDED. IN CASE THE INVOICED QUANTITY EXCEEDS THE MAXIMUM QUANTITY ALLOWED IN THIS STANDBY LETTER OF CREDIT THE BANK WILL PAY ON THE MAXIMUM QUANTITY ALLOWED IN THIS STANDBY LETTER OF CREDIT.
10. PRICE CLAUSE AND CALCULATION NOT STATED ON THE COMMERCIAL INVOICE AND IN THE CONTRACT IS NOT ACCEPTABLE.

11. IN EVENT THAT PAYMENT DUE DATE FALLS ON A SATURDAY OR A BANK HOLIDAY, EXCEPT MONDAY, PAYMENT WILL BE AFFECTED ON THE LAST BANKING DAY PRIOR. IF THE PAYMENT DUE DATE FALLS ON A SUNDAY OR MONDAY BANK HOLIDAY IN LONDON PAYMENT WILL BE MADE ON THE NEXT BUSINESS DAY.

12. NOR DATE TO COUNT AS DELIVERY DATE AND TO APPEAR ON INVOICE ONLY.

13. PORTS OF DISCHARGE OTHER THAN SHANGHAI PORT, CHINA ARE NOT ACCEPTABLE.

14. PRESENTATION OF A TAX INVOICE ACCEPTABLE.

15. IN THE CASE OF DELIVERY EX SHIP ONLY IN THE EVENT THAT THE OUTTURN QUANTITY IS NOT KNOWN AT THE TIME OF PRESENTATION, BENEFICIARY MAY DRAW UNDER THE LETTER OF CREDIT AGAINST A PROVISIONAL INVOICE BASED ON THE MEAN VOLUME OF THE LC QUANTITY. IN THE EVENT THE ACTUAL OUTTURN QUANTITY IS GREATER THAN MEAN VOLUME OF THE LC QUANTITY BENEFICIARY MAY PRESENT A FINAL CLAIM UNDER THIS SBLC. IF THE ACTUAL OUTTURN QUANTITY IS LESS THAN MEAN VOLUME OF THE LC QUANTITY THEN THE DIFFERENCE IS TO BE SETTLED OUTSIDE OF THE SBLC.

*** FOR AND ON BEHALF OF: ISSUING BANK NAME. – COUNTRY, SWIFT CODE: XXXXX,  ADDRESS : XXXXXXXX

*** AUTHORIZED OFFICER 1: (PIN: TBA)
*** AUTHORIZED OFFICER 2: (PIN: TBA)
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