Narrative

Motoimport, PO Box 9, Amsterdam, orders motor cycle and car parts from London Motospares Ltd., 12 Cycle Square, London.

London Motospares Ltd. will obtain these parts from Cyclist Ltd., Singapore. It therefore requests a transferable documentary credit in its own favour and transfers it in favour of Cyclist Ltd.

Motoimport banks with Nederlandsche Middenstandsbank, Amsterdam.

London Motospares Ltd. banks with Royal Bank of Scotland, London.

Cyclist Ltd. banks with the Hong Kong and Shanghai Banking Corporation, Singapore.

The documentary credit is comprised of the following:

Type of Credit:	IRREVOCABLE/TRANSFERABLE
Documentary Credit Number:	DAE74568
Date of Issue:	21 July 2013
Expiry Date:	30 September 2013
Place of Expiry:	London
Amount:	Pounds Sterling 123,675
Available With:	Advising Bank By payment

Shipment:

400 Fuel tanks model 1320 AA cont, 10 gall.

120 clutches 4 gangs model A 154

800 cylinders 150 cc model C45-15

600 rear wheels complete 28" magnesium model MW 123-28

120 fuel-injection sets complete model A 156-F

FCA Singapore

Against presentation of the following documents:

• Signed Commercial Invoice in five-fold

• Combined transport documents (full set) evidencing taking in charge of the merchandise as a full contained load for shipment by ocean vessel to Rotterdam issued to the order and blank endorsed dated not later than 20 September 2013

• Packing list in five-fold

• Declaration issued by the company undersigning the CTD that the goods will be sent by vessel plying in regular line-service

Special Conditions:

• Freight may be paid in excess of the credit amount against freight note in which case CTD to be stamped freight prepaid

Documents are to be presented within 10 days after the date of issuance of the shipping documents.

The advising bank may add its confirmation to the credit.

Shipment will be from Singapore to Port of Rotterdam.

Transshipment is permitted.

Partial shipments are not permitted.

Narrative

On the instructions of London Motospares Ltd., Royal Bank of Scotland transfers the documentary credit (reference IMP124678) to Hong Kong and Shanghai Banking Corporation, Singapore, in favour of Cyclists Ltd., 498 Wheeler St., Singapore.

The amount of the transferred credit is Pounds Sterling 100,000.