1

COUNTER GUARANTEE FORM FOR LETTER OF CREDIT

Name and Address of Applicant :-

________________________________________________

________________________________________________

________________________________________________

________________________________________________

L.C. Application for ` _____________

To, The General Manager/The Asst. General Manager/Chief ManagerManagerThe Cosmos Co- op. Bank Ltd.

Guarantee for issue of Documentary Credit.

In consideration of your opening a Letter of Credit as per my/ our request, I/ We hereby agree and undertake as follows:

1. I/ We hereby agree and undertake to accept and pay all drafts drawn within the terms of the credit and or to take up and pay for all the documents negotiated thereunder on presentation, as also for any disbursement made or liability incurred by your for my/ our account under the credit, together with interest, costs, charges and expenses due to you in respect thereof as hereinafter mentioned.

2. I/We further agree to pay interest to you on the amount (s) payable in respect of my/ our liability under the credit, at applicable rate or at such other rate as may be prescribed by Reserve Bank of India from time to time. Interest at the aforesaid rate shall be payable from the date of negotiation of the bill/documents under the credit upto and inclusive of the date of expiry of 'a' period of 7 days after receipt of the documents by you, and thereafter at the rate of ______% per annum with quarterly rests until payment of at such other rate as may be notified to me/ us by you from time to time.

3. I/ We further agree to pay to you on demand commission and other charges that may be levied as per the bank rules in force from time to time.

4. We also agree to pay all costs (legal costs on full indemnity basis) customs duty, penalty, demurrage, storage charges and all other charges and expenses which you may be put to or suffer or incurred in connection with the goods and or the documents of title to goods, covered by the credit or in the exercise or enforcement of any right or power hereby conferred or otherwise however in the premises, and further agree and undertake to hold you safe and harmless and keep you indemnified against any claim, action, proceeding, liability or loss whether due to any defect or discrepancy in the documents and/ or the goods covered under the credit or otherwise howsoever.

5. I/ We further agree that you shall have a pledge upon all goods and documents of title to goods and other documents covered under the credit which may have been already delivered or shall be hereafter delivered into your possession or into or into the possession of your agents by me/us on my/our behalf or by any person, firm or company as a result of your opening the credit or in connection with the transaction thereunder. The said goods and the documents shall be deemed to be so delivered in pursuance of my/ our this agreement to pledge them to you as security for all payments which may be made by you or your agents under the credit for my / our account as also for any liability whatsoever incurred or which may be hereafter incurred by you or your agents as a result of the opening of this credit, together with interest, costs, charges, and expenses as herein above mentioned.

6. In the event of my/ our default in making payment of any bill drawn under the credit or of any disbursement made by you thereunder for my/ our account or any amount due to you in respect thereof, you shall be entitled without prejudice to any of your rights and without notice to me/us which I/ we hereby expressly waive, to sell the goods covered under the credit, whether before or after their arrival, either by public auction or tender or by private contract and subject to such conditions as you may deem fit to impose, or otherwise dispose of or deal with the said goods or any part thereof and or with the relative documents of title to goods in any manner whatsoever, without

Stamp of ` 100/-

2

being bound to exercise any of these powers or liable for any loss in the exercise or non exercise thereof. The net proceeds realised from sale of the said goods or transfer of any document of title remaining after deducting therefrom the costs and expenses of an incidental to such sale or transfer, shall be applied in or towards payment or satisfaction of the amount (s) due to you in respect of any payment or disbursement made by you under the credit for my/ our account, and interest thereon and all costs, charges and expenses as hereinabove mentioned. I/ We agree to accept Bank's account of sale or realization as conclusive evidence both in and out of court as to the amount(s) realised and expenses incurred and to pay forthwith any shortfall or deficiency remaining after such application. I/ We further agree that you shall not be liable to me/ us for any loss which may occur pending sale or disposal of the goods and/ or documents of title to goods, whether by reason of deterioration or depreciation in the value of the goods or otherwise howsoever caused.

7. I/ We agree to keep the said goods further insured from the time of expiry of insurance cover under the initial policy or policies of insurance, against all risks which are normally covered for goods of the nature purchased under the credit as also against such other risk (s) as may be required by you. Until all your dues in respect of the credit are paid in full, I/ we agree to pay to you forthwith moneys if received by me/ us under any policy or policies of insurance and until payment to you of such insurance moneys, I/ we undertake to hold the same in trust for you.

8. I/ We further agree and undertake to sign, execute and deliver to you for time to time on demand made by you, such further or other deeds, documents and writing and do all such acts, matters and things as may be required by you for better perfecting you title to the said goods and the documents covered under the credit and or to render the same readily saleable or transferable by you to any purchaser (s) at all times.

9. It is understood that the transmission of all instructions and communication under the above credit and the shipping / dispatch of documents and goods thereunder is entirely at my/ our risk. You and your agents shall not be responsible for any error or delay in such transmission or loss or delay in delivering of the documents or the goods nor shall you or your agents be liable in any respect beyond ensuring that the bill (s) drawn under the credit and the relative documents covered thereunder purport to comply with the terms and conditions of the credit.

10. I/ We have made adequate arrangement for retiring the bills under the credit and do not contemplate to seek any financial assistance from you for the purpose.

11. I/ We approve of the negotiations of the draft drawn under the credit being confined to your branches or agencies.

12. This application shall be deemed to have been accepted and the credit deemed to have been established when written advice thereof has been sent to the beneficiary.

13. I/ We agree and confirm that this credit may be amended and/ or modified by you in your absolute discretion including for an increased limit on our giving you written instructions for the same and in such an event such amendment / modification will be deemed to form part of this credit application and will be governed by the terms, hereof and I/ we agree, covenant, record and confirm that I/ we shall be bound by the same as if such amendment / modification including the increased limit had originally constituted the term of this credit.

14. This agreement shall be binding upon me/ us, my/ our heirs, executors, administrators/successors and shall ensure to the benefit of and be enforceable by you, your successors, transferees and assigns. If this agreement should be terminated or revoked by operation of law as to me/ us, I/ we will and I/ we hereby agree to indemnify and save you harmless from any loss which may be suffered or incurred by you in acting hereunder prior to the receipt by you, or your successors, transferees or assigns of a notice in writing of such termination or revocation.

15. The Borrower hereby gives specific consent to the Bank/Lender for disclosing/submitting the 'Financial

Information' as defined in Section 3 (13) of the Insolvency and Bankruptcy Code, 2016 ('Code' for brief) read with the relevant Regulations / Rules framed under the Code, as amended and in force from time to time and as specified there under from time to time , in respect of the Credit /Financial Facilities availed from the Bank/Lender, from time to time, to any 'Information Utility' ('IU' for brief ) as defined in Section 3 (21) of the Code, in accordance with the relevant Regulations framed under the Code, and directions issued by Reserve Bank of India to the Banks from time to time and hereby specifically agree to promptly authenticate the 'Financial information submitted by the Bank/Lender, as and when requested by the concerned 'IU'.

EXCEPT AS OTHERWISE EXPRESSLY STATED THIS CREDIT IS TO BE OPENED SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS (2007 REVISION) AS CONTAINED IN THE INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 600 OR AS AMENDED FROM TIME TO TIME. Yours faithfully,

Authorised Signatory

(With rubber stamp)

Date :

Place :

APPLICATION FOR AN IRREVOCABLE INLAND LETTER OF CREDIT

The General Manager/ Asst. General ManagerChief Manager/ Branch Manager Date :Dear Sir, Please arrange to open an irrevocable Inland Letter of Credit on our account as per instructions below subject to uniform customs and practice for documentary credit ( 2007 Revision) International Chamber of Commerce Publication No.600/2007.

PARTICULAR REQUIRED INFORMATION 40 A Form Of IRREVOCABLE Documentary credit

31 C Date Of Issue To be Filled By the Bank 40 E Applicable Rule To be Filled By the Bank

31 D Date & Place of Expiry 50 Name of Applicant & Name : Address with authentic Mail Id

Address :

Email-id :

59 Beneficiary Name Name : & Address

Address :

32 B Currency Code INR 39 A Tolerance %

39 B Maximum Credit Amount

41 A Available With-

By-

(Tick which is

Required)

41 D Available with...by If Bank is not restricted - Any Bank in India

42 A Drawee Bank Code

3

IF Bank Is Not Restricted- Any Bank in India

IF Bank Is Restricted

(1) Name of Bank

(2) IFSC Code (3) MICR CODE

Stamp of ` 100/-

`

CODESFMS

D D M M Y Y Y Y

42 C Draft At (Usance Period Date) Usance Period ___________Days From Date of ____________

43 P Partial Shipment Allowed / Not Allowed (Scratch Which is not required)

43 T Transshipment Allowed / Not Allowed (Scratch Which is not required)

44 A Goods to be

dispatched From

44 B Goods to be dispatched To

44 C Last Date of Shipment

45 A Description of

Goods or

Services

Inco Term For/ CIR.C&IF / EX WORK

(Tick Mark required)

46 A Document required 1) Bill of Exchange at Sight/ Usance______ days

2) Signed Commercial Invoice Copies

(TICK WHICH IS 3) Air Consignment note/Railway Receipt/Motor Transport Receipt Multimodal

REQUIRED) transport receipt note later than_________ signed by authorized official,

marked freight prepaid/payable at destination made out to the order of the

THE COSMOS CO-OP. BANK LTD. account consignee. The MRT should be issued by a transport operator on the recommended list of Indian Bank's Association.

4) Signed Delivery Order made out in favour of the

The Cosmos Co- Op. Bank Ltd. _____ or order copies.

5) Inland Transit Insurance policy in duplicate for invoice value of the goods

plus 10% endorsed in blank, covering inland transit risk as per Inland transit

Clause ASRCC Risk as per Institute Strikes Clause (Cargo) with claims

payable irrespective of percentage

6) Packing List in Copies

7) Any other documents if required

47 A Additional Condition 1) A Transport document which is produced (TICK WHICH IS (a) by reprographic system REQUIRED) (b) by or as a result of automated or computerized (c) as Carbon copy will not be accepted as original documents even it is or marked as original appears to have been authenticated. 2) Transport Documents bearing reference by stamp or otherwise the costs additional to freight charges are not acceptable 3) Short form of blank back transport document are not acceptable 4) A transport document bearing a date of issuance prior to period to that of the credit is acceptable/ or not 5) A transport document must be issued by the carried or his agent and not by an freight forwarder

71 B Charges by advising/ negotiating / Interest for Applicant’s account or Beneficiary’s

48 Period for

Presentation 78 Instructions to

Negotiating Bank

57 A Name & Address of

the Advising Bank

IFSC CODE & MICR

CODE with contact No. & email address

4

PARTICULAR REQUIRED INFORMATION

SFMSCODE

Terms and Conditions:

1. Except so far as otherwise expressly stated, this documentary credit is subject to uniform customs and Practice for Documentary credit (2007 Revision). International chamber of commerce Publication No. 600

2. If the documents called for do not include insurance Policy (ies) or certificate(s) we undertake to produce to you within 7 days from the date of this application an insurance policy or certificate acceptable to you and in your name for the C&F value plus at least 10 per cent, failing which you may effect insurance at our expense but you are not obliged to do so.

3. You are authorized to make any additions to the conditions and documents specified under this credit which you may consider necessary to ensure compliance with government regulations but you are not obliged to do so.

4. This documentary credit and the drawing (s) thereunder are to be subject to the terms of the Agreement of Pledge/General Security Agreement Relating to Goods given to you.

5. The words “we” and “our” shall be read “I” and “my” if this application is signed by or on behalf of an individual.

6. You are authorised at your sole discretion and without obligation to do so wherever you consider it advisable, customary or appropriate to waive/delete the following from the instructions contained overleaf whether completed by me/us or not), namely. “Draft at sight /at days drawn on for full invoice value of goods”.

7. In consideration of opening of the above Letter of Credit the undersigned hereby undertake to accept and pay in due course all drafts drawn within the terms thereof and/or to take up and pay for all documents negotiated thereunder on presentation and in default of undersigned doing so you may sell goods before or after arrival and undersigned undertake to reimburse you for any shortfall that may occur and undersigned further undertake forthwith on demand made by you in writing to deposit with you such sum or security or further sum of security as you may from time to time specify for the due fulfillment of our obligations hereunder and any security so deposited with you be sold by you on your delivering reasonable notice of sale and said sum of proceeds of sale of security may be appropriated by you in or towards satisfaction said obligation and any liability of our arising our of non-fulfillment thereof.

8. In the absence of any instructions to the contrary specified in “ Additional Conditions” overleaf you are authorized to instruct any Bank or branch concerned to dispatch any draft(s) and /or any documents by one or more mails or other method of conveyance at your sole discretion.

9. If at any time and from time to time hereafter and at our request you enhance the amount of Letter of Credit or amend any terms thereof (including extension of validity of credit for shipment and /or negotiation documents) then notwithstanding the amount and terms specified in this application, our guarantee shall cover and be deemed to cover the entire amount of the enhanced Letter of Credit issued by you and any other amendment thereto and our liability will be for the entire amount of Letter of Credit so enhanced and or amended at your request. We shall continue to be bound by all the terms and conditions of application and guarantee not withstanding such enhancement or amendment from time to time as you may make at our request in value or terms & conditions.

10. We acknowledge that the right is reserved by you to refuse to grant our loan application at the time of the presentation of documents under this credit.

Where goods are freely importable at the time of establishing this credit and subsequently subject to any restriction or regulation, we undertake that shipment will be made within period stipulated by Export Import Policy in Force, at the time restriction being imposed.

11. We are aware of the implications of Article 15,34 & 35 of UCP 600 and acknowledge that where a bank claims to have paid accepted/negotiated under this Documentary Credit, its good faith and the fact of payment/acceptance negotiation thereof shall be presumed in the absence of evidence to the contrary.

12. Unless specialty requested otherwise above you are not obliged to include any documents which may have attached to this application, as an integral part of Letter of Credit neither are you bound to examine documents under the credit against such attachments.

13. It is understood that all instructions and correspondence relating to this credit are to be sent at risk of undersigned and that Bank is not responsible for any loss, errors or delays whether on part of postal, telegraph or cable companies or authoirse or otherwise.

5

th14. Unutilized Documentary Credit will automatically be cancelled on the 30 date of expiry.

15. In Case of Customer being a Company registered under the Companies Act, should ensure that the person appointed as a Director has not been identified as willful defaulter as per the RBI directions / guidelines and if it is noticed that any of the Director of the company is a willful defaulter then Company undertakes to remove such director from the Board with immediate effect without offering any excuse for not doing so.

16. Authentic Mail Ids are _________________________________________________.

Date : ________________ Authorised Signatories Place :_________________ with rubber stamp

6

No. 5031/1000/0-2019