c. to accept a bill of exchange (“draft”) drawn by the beneficiary and pay at maturity if the credit is available by acceptance.

Draft must be negotiated in China within 15days from the date of Bill of Lading but not later than 15th July 2001.

We hereby issue our irrevocable letter of credit No。194956 available with any bank in China, at 90 days after Bill of Lading date by draft。