Payment

4.1. Payment is done in _____ from the irrevocable confirmed divisible letters of credit lodged by the Buyer for the benefit of the Supplier to the sum covering the cost of the loaded consignment, the 'price of the insurance including.

4.2. The Buyer lodges a bill of lading by telegraph during "days on getting the notification of the Supplier about the products being ready for loading within the maturity of ____ days and with the simultaneous coverage of the remittance in the letter of credit issued. The payment from the letter of credit is performed by the bank ______ against the following documents produced by the Supplier:

a) accounts of the Supplier in ___ copies;

b) complete set of the bill of ladings' originals in copies with the mark "The freight is being paid for by the charterer in accordance with the conditions of the charter";

c) the quality certificate issued by the Supplier or the manufacturing plant in ___ copies;

d) the insurance policy against common sea risks and also against military and other risks if the products are due to such insurance by order of the Byyer. If the Buyer does not lodge a letter of credit in the time stipulated above or he lodges it under conditions not stipulated by the present. Contract, the Supplier will be entitled to detain the loading of cast-iron without being responsible for not observing the time-limits of the delivery and relate the expenses for storing this cast-iron at the port of loading and also the expenses connected with the under-utilization of the tonnage chartered, at the account of the Buyer.