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TO:IRREVOCABLELETTEROFGUARANTEENO..ATTHEREQUESTOF(SELLER’SNAMEANDADDRESS)ANDINCONSIDERATIONOFYOURAGREEINGTOPAY（SELLER’SNAME）(ADDRESS),(HEREINAFTERCALLED''THESELLER'')THEINSTALMENTSBEFOREDELIVERYOFTHEVESSELUNDERTHECONTRACTCONCLUDEDBYANDBETWEENYOUANDTHESELLERDATED＿＿＿＿FORTHECONSTRUCTIONOF＿＿＿＿TOBEDESIGNATEDASHULL＿＿＿＿(HEREINAFTERCALLED''THECONTRACT''),WE,BANKOF＿＿＿＿,DOHEREBYGUARANTEEREPAYMENTTOYOUBYTHESELLEROFANAMOUNTUPTOBUTNOTEXCEEDINGATOTALAMOUNTOFUNITEDSTATESDOLLARS＿＿＿＿ONLY（US$＿＿＿＿）,REPRESENTINGTHEFIRSTINSTALMENTOFTHECONTRACTPRICEOFTHEVESSEL，UNITEDSTATESDOLLARS＿＿＿＿ONLY（US$＿＿＿＿），THESECONDINSTALMENTOFTHECONTRACTPRICEOFTHEVESSEL，UNITEDSTATESDOLLARS＿＿＿＿ONLY（US$＿＿＿＿），THETHIRDINSTALMENTOFTHECONTRACTPRICEOFTHEVESSEL，UNITEDSTATESDOLLARS＿＿＿＿ONLY（US$＿＿＿＿）ANDTHEFOURTHINSTALMENTOFTHECONTRACTPRICEOFTHEVESSEL，UNITEDSTATESDOLLARS＿＿＿＿ONLY（US$＿＿＿＿），ASYOUMAYHAVEPAIDTOTHESELLERUNDERTHECONTRACTPRIORTOTHEDELIVERYOFTHEVESSEL,IFANDWHENTHESAMEORANYPARTTHEREOFBECOMESREPAYABLETOYOUFROMTHESELLERINACCORDANCEWITHTHETERMS(ARTICLE＿＿＿＿)OFTHECONTRACT.SHOULDTHESELLERFAILTOMAKESUCHREPAYMENTWITHINTWENTYONE(21)DAYSFROMTHETIMEOFITSRECEIPTOFTHEWRITTENNOTICEOFRESCISSIONOFTHECONTRACTFROMYOU,WESHALLPAYYOUTHEAMOUNTTHESELLEROUGHTTOPAYWITHNOINTERESTIFCANCELLATIONOFTHECONTRACTISEXERCISEDBYYOUFORTHEDELAYCAUSEDBYPERMISSIBLEDELAYSORTOTALLOSSINACCORDANCEWIHTTHEPROVISIONSOFARTICLE＿＿＿＿,ORTOGETHERWITHANINTERESTATTHERATEEQUALTO＿＿＿＿,IFTHECANCELLATIONOFTHECONTRACTISEXERCISEDBYYOUINACCORDANCEWITHTHEPROVISIONSOFARTICLE＿＿＿＿OFTHECONTRACTWITHINTHIRTY(30)BUSINESSDAYSAFTEROURRECEIPTOFTHERELEVANTWRITTENDEMANDFROMYOUFORREPAYMENT..THEWRITTENDEMANDFORREPAYMENTANDANYCOMMUNICATIONWITHUSORWITHTHESELLERINRESPECTOFTHISGUARANTEE,MAYBEMADEBYYOUTOUSINWRITINGTHROUGHYOURBANKANDDULYAUTHENTICATEDBYYOURBANKORBYYOURBANKONYOURBEHALFTHROUGHAUTHENTICATEDSWIFT.HOWEVER,INTHEEVENTOFANYDISPUTEBETWEENYOUANDTHESELLERINRELATIONTO:(1)WHETHERTHESELLERSHALLBELIABLETOREPAYTHEINSTALMENTPAIDBYYOUAND;(2)CONSEQUENTLYWHETHERYOUSHALLHAVETHERIGHTTODEMANDPAYMENTFROMUS..ANDSUCHDISPUTEISSUBMITTEDEITHERBYTHESELLERORBYYOUFORARBITRATIONINACCORDANCEWITHARTICLEXIIIOFTHECONTRACT,WESHALLBEENTITLEDTOWITHHOLDANDDEFERPAYMENTUNTILTHEARBITRATIONAWARDISPUBLISHED.WESHALLNOTBEOBLIGATEDTOMAKEANYPAYMENTTOYOUUNLESSTHEARBITRATIONAWARDORDERSTHESELLERTOMAKEREPAYMENT.IFTHESELLERFAILSTOHONOURTHEAWARDTHENWESHALLREFUNDTOYOUTOTHEEXTENTTHEARBITRATIONAWARDORDERSBUTNOTEXCEEDINGTHEAGGREGATEAMOUNTOFTHISGUARANTEEPLUSTHEINTERESTDESCRIBEDABOVE..THESAIDREPAYMENTSHALLBEMADEBYUSINUNITEDSTATESDOLLARS.THISLETTEROFGUARANTEESHALLBECOMEEFFECTIVEFROMTHETIMEOFACTUALRECEIPTOFTHEFIRSTINSTALMENTBYTHESELLERFROMYOUANDTHEAMOUNTSEFFECTIVEUNDERTHELETTEROFGUARANTEESHALLCORRESPONDTOTHETOTALPAYMENTACTUALLYMADEBYYOUFROMTIMETOTIMEUNDERTHECONTRACTPRIORTOTHEDELIVERYOFTHEVESSEL。HOWEVER,THEAVAILABLEAMOUNTUNDERTHISLETTEROFGUARANTEESHALLINNOEVENTEXCEEDABOVEMENTIONEDAMOUNTACTUALLYPAIDTOTHESELLER,TOGETHERWITHINTERESTCALCULATED,ASDESCRIBEDABOVEATTHERATEEQUALTO＿＿＿＿,ASTHECASEMAYBEFORTHEPERIODCOMMENCINGWITHTHEDATEOFRECEIPTBYTHESELLEROFTHEFIRSTINSTALMENTTOTHEDATEOFREPAYMENTSTHEREOF..THISLETTEROFGUARANTEESHALLREMAININFORCEUNTILTHEVESSELHASBEENDELIVEREDTOANDACCEPTEDBYYOUORREFUNDHASBEENMADEBYTHESELLEROROURSELVES,ORUNTIL＿＿＿＿,WHICHEVEROCCURSEARLIEST,AFTERWHICHYOUARETORETURNITTOUSTHROUGHYOURBANKFORCANCELLATION..THISLETTEROFGUARANTEEISASSIGNABLEBYYOUWITHOURPRIORWRITTENCONSENTWHICHANYHOWNOTTOBEUNREASONABLYWITHHELDORDELAYED..THISLETTEROFGUARANTEESHALLBEGOVERNEDBYANDCONSTRUEDINACCORDANCEWITHENGLISHLAW.ANYDISPUTEARISINGUNDERORINCONNECTIONWITHTHISLETTEROFGUARANTEESHALLBESUBJECTTOANDRESOLVEDBYARBITRATIONINLONDON。.WEHEREBYCONFIRMHEREWITHTHATWEAREPERMITTEDBYTHELAWSOFTHEPEOPLE'SREPUBLICOFCHINATOISSUETHISGUARANTEWITHTHISWORDINGANDESPECIALLYTODESIGNATEENGLISHLAWASTHEGOVERNINGLAWANDLONDONASTHEPLACEOFJURISDICTION.WEHAVEALSOCOMPLIEDWITHTHERULES,REGULATIONSANDREQUIREMENTSOFFOREIGNEXCHANGEBYTHESTATEADMINISTRATIONOFFOREIGNEXCHANGEOFTHEPEOPLE'SREPUBLICOFCHINA,I.E.REGISTRATIONORSIMILARDIRECTIVES,WECONFIRMTHATWEHAVETHENECESSARYAUTHORIZATIONTOTRANSFERFUNDSOUTOFTHEPEOPLE'SREPUBLICOFCHINAINTHECURRENCYOFTHISGUARANTEE.UPONITSEXPIRATIONTHISLETTEROFGUARANTEESHALLBECOMENULLANDVOIDAUTOMATICALLYANDSHALLBERETURNEDTOUSFORCANCELLATIONTHROUGHYOURBANK..UNQUOTE