In The Name of God , Most Gracious , Most Merciful
Unconfirmed Letters of Credit Guarantee Contract

On ............................../ ...../ ....... this contract was conclude by and between :

First	The Export Credit Guarantee Company of Egypt - An Egyptian Joint - Stock Company established by virtue of law 21/1992 , located in the City of Cairo , referred to in this contract by " The Company " represented in signing this contract by : ...............................................................................................
Second	The Bank Referred to in this contract by " The Bank "represented in signing this contract by : ..........................................................................................

Preamble
These letters were issued by foreign banks and were notified or assigned to the Bank to assume negotiating its document and / or deasounting thereof .

Article (1) : Definitions

The Bank	The second party to this contract which has notified of the guaranteed letter/ letters or to which it was assigned. It shall assume negotiating the documents of the credit or dicounting thereof .
Public Sector Bank	The bank totally or partially owned by the state to which it is affiliated and which is considered according to its legislation a Public Sector Bank .
The Company	The Export Credit Guarantee Company of Egypt .
Shipping	Delivering the goods , Subject - matter of the letter/ letters, to the carrier or his agent against receiving the bill of lading .
Bankruptcy	means for the purpose of this contract , the declaration of the bankruptcy by a final court ruling the drawing of a reconciliation preventing bankruptcy any judicial procedure resulting in the debtor losing control over the management of this finance . The same applies in case of liquidation is meant solely for the purpose of reorganization or merging into another juristic person without affecting the creditor's rights .
Currency of the Bank Issuing the Credit	The currency of the state in which region the Bank issuing the credit practices activity .
Exchange Rate of the Bank Issuing the Credit	For any day , it is the rate confirmed by the Central Bank of the state in which region the bank practices its activity and which applies to payments related to foreign trade . If that exchange rate varies of changes on the same day , then the average exchange rate applied at the main bank in this state shall be adopted . Should that exchange rate be impossible to determine on that day , then the exchange rate of the nearest previous day on which the above regulations could apply shall be adopted .
This Contact	The Guarantee Agreement with its preamble and annexes which shall be considered indivisible parts thereof and any subsequent amendment to its provisions .

 

Article (2) : Subject - Matter of the Contract
The Subject - Matter of the Contract is to issue the Bank against the risks indicated in Article (7) . This shall be carried out by indemnifying it for any losses incurred as a result of the inhability of the bank issuing the letter / letters of credit to fulfill its obligations to pay any amounts in paying paid by the second party Bank on the basis of the covered letter/ letters of credit and in accordance with this contract , and without having the right to resource to third party for these amounts .