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AFTER POSITIVE VERIFICATION OF THE PROOF OF PRODUCT AND RECEIPT OF PERFORMANCE BOND, BUYER WILL ISSUE THROUGH A FIRST CLASS WEST EUROPEAN BANK AN IRREVOCABLE AND DOCUMENTARY( NON TRANSFERABLE NON DIVISIBLE – NON-REVOLVING) LETTER OF CREDIT,PAYABLE AT SIGHT AGAINST THE USUAL DOCUMENTATION, ON A CARGO BY CARGO BASIS TO COVER 100 % OF THE VALUE OF EACH CARGO.