Revolving Letter of Credit

By | August 15, 2010

Andhra Bank
Head Office, Koti,
Hyderabad.

Date of Issue: Aug. 04. 2010

Our Irrevocable Revolving Letter of Credit: 7894

Date of Expiry: Aug. 06. 2011

Beneficiary:
Sarathi Steel Industries
Uppal Industrial Area
Uppal,
Hyderabad.


This is in accordance to the request of our customer to be provided with the payment for the current project to reach the requirements needed for the successful completion of the project.

The payment would be credited to the applicant with Andhra Bank, Koti, our financial support, and the transaction would be monthly basis and non-cumulative. Each month an amount of 15,000 IND Rupees is allowable and the customer are requested to utilize the full amount as the Letter of Credit is a Non-Cumulative and in accordance with agreement with our customers.

Drawing hereunder must be presented at Andhra Bank, Head Office, Koti; Hyderabad on or before the end of banking business on Aug. 06. 2011.

We respect the requirements of our customer and take total care to fulfill them and expect the assigned project to be completed within the termed date in the agreement.

Authorized Signature.