Terms and Conditions for Trade Finance and Guarantee transactions on dnb.no/corporate 1

Definitions

Customer User -

DNB Business Day -

Workday -

Settlement day -

TF/G Online -

Supervisor -

Super User -

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means the company that enters into this agreement. or “Users” means the Customer and any person or persons authorised by the Customer to use this service on the Customer’s behalf. means DNB Bank ASA, registered office: 0021 Oslo, Norway and its international branches. means a day on which banks are open for business in both the initiating and the receiving country for the transaction A weekday, i.e. Monday through Friday, aside from public holidays, which is the settlement day for the relevant currency the calendar day when an account is debited or credited and the settlement can be cleared between the institutions/central banks involved in the transaction. For transactions cleared within same institution, the settlement day is the day when accounts are debited/credited. Transaction/inquiry system on dnb.no/corporate for Trade Finance (Letters of Credit and Documentary/ Clean Collections) and Guarantees user with extended authority who administrates the authorisations for all the Customer’s other Users, as well as his /her own authorisations. user with extended authority who may approve transactions outside the defined authorisation limits.

General

2.1 The service is an online information and transaction system provided by DNB Bank ASA (hereafter called DNB) for Letters of Credit, Documentary/Clean Collection and Guarantees. 2.2 By entering into this agreement the Customer gains the right to use the service to instruct DNB to issue Letters of Credit and Guarantees and initiate Documentary Collection transactions.

3.3 DNB will accept logons where the User ID and security code are correct. It is the responsibility of the User(s) to ensure that unauthorised persons do not gain access to data files and/or other information via their PC(s) pertaining to services provided by DNB. 3.4 The Customer is responsible for ensuring that the internal procedures related to Trade Finance / Guarantee transactions meet the ordinary authorisation, audit and computer security requirements. 3.5 Users the Customer designates as Supervisors and Super Users are permitted to change the authorisations of ordinary Users and/or approve transactions that exceed the ordinary authorisation limits defined by the Customer. The ordinary Users have the authorisations registered by the Supervisor or Super User. 4

User – operation of accounts. Responsibility

4.1 The Customer is responsible for notifying DNB in writing of any change of Users. Being registered as a User of the Service does not automatically entitle a person to effect transactions on the Customer’s account beyond what is necessary to perform the functions encompassed by the Service Agreement. 4.2 DNB assumes that the Customer has established the necessary internal standard procedures to ensure that only persons the Customer has authorised as Users are able to log on to the Service and that the Users comply with the rules set out in this section 4. 4.3 The User Identification may only be used by the individual User to whom it was assigned. 4.4 In the event that a User suspects that an unauthorised person has learned his/her password, or if for some other reason there is a risk that the Service could be misused, the User must change his/her password immediately. If the security card and/or associated PIN code is/are lost or misplaced, the User must contact Customer Service immediately to have them block the security card and User ID and issue a new User ID. 4.5 The Customer is liable for any misuse that can be attributed to the Customer having wilfully, or through negligence given an unauthorised person access to information that enabled said person to pose as one of the Customer’s authorised Users.

2.3 DNB reserves the right to expand, change or shut down all or parts of the Service. If the Service is shut down or its scope is significantly reduced, the Customer must be notified in writing at least one month in advance.

4.6 The Customer is not liable for use of the Service by unauthorised persons that occurs after DNB has been notified of circumstances that entail a particular danger of misuse. The Customer is nonetheless liable if the Customer or a User has made such misuse possible either wilfully or due to gross negligence. The Customer is also liable for any misuse on the part of an authorised User.

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Access for the Customer/User(s)

3.1 Upon entry into this agreement, the service will be included in the function menu of persons who are already authorised Users of the restricted access sections of dnb.no/corporate. Such persons will keep their existing security cards and codes. 3.2 Any new authorised User of the restricted access sections of dnb.no/corporate specified in the Service Agreement for Trade Finance and Guarantees on dnb.no/corporate, will be assigned a personal user ID, a personal security card and a PIN code. The user ID, PIN code and security card code must not be revealed or handed over to anyone else, including DNB.

DNB Bank ASA, PO box 1600 Sentrum 0021 Oslo

Transaction instructions

5.1 Depending on the type of transaction and provided the Customer has adequate available funds or credit on the account that is to be debited, transactions will normally be executed in the course of the Workday on which the instructions are received (if they are received before 12 noon) and at the latest by the end of the next Workday after the correct receipt of the instructions via the Service. Any instructions sent during a weekend or on a public holiday will be deemed as having been received on the first following Workday. 5.2 The following applies to instructions to issue guarantees. If the Customer states that it is a matter of urgency, the guarantee will be issued on the day when the instructions are received or at the latest on the next Workday. All other instructions will be carried out within five workdays.

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Terms and Conditions for Trade Finance- and Guarantee transactions on dnb.no/corporate The preceding is based on the assumption that the instructions are adequate, and that the Customer has been granted a credit line for issuing guarantees (a guarantee facility) and that the available balance on such credit line is sufficient. 5.3 The Customer is responsible for transferred data until it reaches DNB, and the Service has confirmed that the bank has received the data. It is also the Customer’s responsibility to see whether data transmissions reach their destination by checking to ensure that submitted instructions are correctly confirmed and that the contents of the confirmation agree with the details of the instructions sent by the Customer. 5.4 The Customer is liable for losses/delays due to errors or insufficient information in the payment instructions, or if DNB Trade Finance is unable to execute the transaction because the Customer does not have an approved credit line, or does not have sufficient available funds on the credit line to cover the transaction. 6

Handling of transactions in the Service

6.1 The Customer is responsible for ensuring that the available balance on his account, or approved credit line, is sufficient to cover the requested transactions. In addition, the Customer undertakes to ensure that there are sufficient available funds to cover any repayments on the due date. In the event of insufficient funds/approved credit, transactions will not be effected until the matter has resolved. If the Customer does not have a sufficient balance on his account/credit line to cover all the requested transactions the oldest ones will be processed first. 6.2 Checking of received data. Upon receipt of instructions Trade Finance /Guarantees in DNB checks to ensure that:  the instructions contain all the necessary information and do not contain formal errors.  the Customer’s approved credit line is sufficient to cover the transaction(s).  the transaction will be charged/credited to the correct account in accordance with the Customer’s instructions  the Customer has entered into an agreement to send transaction instructions via the Service.  the accounts to which the Customer wants to charge transactions are registered in the Service and the Customer is permitted to use them for payments. 

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Changing/cancelling payment instructions

7.1 Transactions sent to DNB via the Service will normally be executed immediately after having been received and can therefore normally neither be changed nor cancelled. If the Customer nonetheless wants to cancel or change a transaction, the standard procedure for the relevant product should be followed. In such cases the Trade Finance/Guarantee department in DNB will attempt to recall or stop the transaction. The Customer is required to pay any charges incurred in that connection.

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Notification to the beneficiary

8.1 The beneficiary’s bank is responsible for notifying the beneficiary of incoming transactions.

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Notification to the Customer

9.1 The Customer will be notified of executed transactions electronically via the Service. It is important that the Customer establishes procedures for handling these messages correctly. The Customer is responsible for checking the confirmations to ensure that the transactions were executed correctly in accordance with the Customer’s instructions. Messages concerning transactions executed via the Service can be of the following types: Notice of executed transaction The data transfer was received and accepted and the confirmations of the executed transactions are returned to the Customer in the order in which they were processed. Each individual transaction has now been assigned a reference number, which the Customer should specify in connection with any queries to Customer Service concerning the transaction. Notice of rejection. A message stating the reason for the rejection will be included in the notification to the Customer. The entire data transfer will be rejected. Notice of partial rejection In the event of formal errors in received instructions that prevent the bank from executing the transactions, the Customer will be notified via the Service and/or by telephone/letter and the reason for the rejection will be specified. The same applies if the transaction cannot be executed because the customer does not have approved credit lines/sufficient funds etc.

the User in question is authorised to submit data on behalf of the Customer according to the Service Agreement. It is up to the Customer to determine the authorisation level for each individual User..

Confirmation of executed transactions

6.3 The checks performed by DNB pursuant to this clause do not in any way diminish the Customer’s liability or responsibility as expressly set out in other clauses of this agreement

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6.4 The special rules pertaining to the execution of Trade Finance and Guarantee transactions are set out in clauses 16-18 of this agreement. The rules for both outgoing and incoming payments are set out in DNB’s Ordinary Terms and Conditions for Deposits and Payments, and in the price list for Corporate Customers as it applies from time to time.

DNB Bank ASA, PO box 1600 Sentrum 0021 Oslo

The confirmation can be retrieved from the system as soon as the transaction has been credited / debited the Customer’s account. Security

10.1 The Customer undertakes to ensure that the standard procedures, controls and security related to use of the Service are satisfactory. 10.2 Transactions sent via the Service are encrypted before transmission to ensure secure data transfers between the Customer and DNB. Instructions that are sent to the bank for processing must be approved by one or more duly authorised Users. (See clause 3)

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Terms and Conditions for Trade Finance- and Guarantee transactions on dnb.no/corporate 11

DNB’s responsibilities

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11.1 DNB is responsible for executing the transactions in accordance with the confirmation that is returned to the Customer upon receipt of the latter’s instructions. 11.2 DNB is not liable for direct or indirect losses due to downtime or communication problems at the Customer's, on communication networks or at the premises or on the systems of associates whose services the Customer uses. 11.3 DNB is not liable if new legislation, directives issued by the authorities, war, strike, lockout, blockade or other circumstances beyond the Bank's control significantly impede or prevent the execution of transactions. 11.4 DNB disclaims all responsibility for the Customer’s use of the Service and the security card. It is the Customer’s responsibility to ensure adequate controls to prevent unauthorised personnel from accessing the Service. 11.5 In addition to the above, DNB’s rules for issuing letters of credit and executing documentary credit and guarantee transactions as set out in clauses 16 - 18, as well as DNB’s ordinary rules for deposits and payment services, also apply.

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Information, Intellectual Property rights etc.

12.1 Information in the Service is the property of the information provider and may not be reproduced and/or distributed (cfr. the Norwegian Copyright Act). Neither DNB DNB's information providers can be held responsible for direct or indirect losses ensuing from defects or errors in the information content, or incorrect use of the information.

Prices

14.1 Please see the price list for Corporate Customers, or individual price agreement. 14.2 DNB reserves the right to change its prices and price structure with one month’s written notice. 15

External databases

15.1 External databases such as Dun & Bradstreet and CreditInform can be accessed via dnb.no/corporate. Additional charges are levied for the use of these services. The prices are posted on-line next to the individual selections on the service menu. In connection with queries about personal information a letter is always sent to the subject of the query notifying him/her that the information has been requested. If asked by the subject of the query DNB is required to reveal who requested the information. 16

Special terms for guarantees

Guarantee Facility agreement 16.1 All requests for issuing and amending guarantees shall be in accordance with the agreement the Customer entered into with DNB for a guarantee facility. All guarantees are issued for the Customer’s account and risk and the Customer is liable until DNB is released from its guarantee liability. The same applies to extensions of the guarantee. DNB reserves the right to approve the guarantee text. 16.2 The Customer is required to reimburse DNB for any expenses incurred in connection with guarantees issued on the Customer’s instructions, and to pay commission, interest and charges in the event of any payouts under the guarantee.

12.2 DNB has full copyright and intellectual property rights to all software and user guides provided by the Bank. Such software and user guides are not to be passed on to anyone else, sold, copied or in any other manner used for purposes not approved by DNB.

16.3 The Customer is required to respond, within a reasonable amount of time, to queries from DNB about received demands for payment under the guarantee and must immediately send adequate documentation to support any objections to such demands.

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Issuance of new guarantees

Termination

13.1 This agreement may be cancelled with one month’s written notice. The agreement always runs until the end of the month. The Customer’s notice of cancellation must be received at the latest on the last day of a month in order for it to take effect as of the end of the next month. If the notice of cancellation is received later than that month, it will take effect as of the end of the next following month. 13.2 In the event that the Customer enters into debt negotiations, a scheme of arrangement or composition with its creditors, is party to a merger or demerger, or there are other significant changes in the Customer’s ownership, the agreement may be terminated with immediate effect. The same applies in the event of breach of contact.

Direct guarantees (DNB issues the guarantee) 16.4 Direct guarantees are written in a guarantee document that is sent to the Customer by regular mail. It is the responsibility of the Customer to forward the document to the beneficiary after approving the guarantee text. DNB can send the document directly to the beneficiary if instructed to do so by the Customer. Notice of direct guarantees can be sent via the SWIFT network to a foreign bank that will forward the guarantee to the beneficiary along with a confirmation that the guarantee was issued by DNB. DNB may choose to send the guarantee text to the Customer for approval before sending the original. A copy of the message containing the guarantee text and other documentation will be sent to the Customer via TF/G Online.

13.3 Transactions that have not been executed when the agreement expires will automatically be cancelled.

DNB Bank ASA, PO box 1600 Sentrum 0021 Oslo

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Terms and Conditions for Trade Finance- and Guarantee transactions on dnb.no/corporate Indirect guarantees (Issued by a foreign bank) 16.5 An indirect guarantee is issued by one of DNB’s correspondent banks in another country in return for a counter indemnity from DNB. DNB sends the guarantee assignment via the SWIFT network after the Customer has approved the guarantee text and the associated counter indemnity. A copy of the guarantee document and other documentation will be sent to the Customer via TF/G Online. 16.6 The Customer accepts and agrees that DNB is not responsible for any errors made by a correspondent bank and agrees to indemnify DNB for any obligations and liability of any nature incurred by DNB due to circumstances, laws, practises or legal customs and usages in another country. If the Customer has not specified any particular bank, DNB will choose one according to its best judgement. Guarantee commission and charges in the foreign bank are to be paid by the Customer. ”On Demand”-guarantees 16.7 If the guarantee gives the beneficiary or the correspondent bank the right to demand payment of the guaranteed amount upon the first request (”Demand guarantee") the Customer accepts and agrees that DNB is required to pay out such amount without having to investigate the legitimacy of the claim. Notwithstanding, the Customer is to be notified before the payment is made. The Customer accepts and agrees that any disputes must be settled between the parties to the underlying agreement after payment has been effected and without involving DNB or the foreign bank. In accordance with this, the Customer authorises DNB to pay all or part of the guaranteed amount upon receipt of the first request from the beneficiary/correspondent bank, and to debit the Customer’s account for the amount paid out under the guarantee plus interest and charges, if applicable. Changes and cancellation of guarantees

17.2 DNB assumes no responsibility in connection with re-transfers or for any differences in exchange rates which may occur. If the documentary credit expires without having been utilised, or if it is completely or partly cancelled, DNB is entitled to be compensated for any loss related to such exchange rates, and / or sale or reversal of the amount covered, or transferred in the foreign currency. 17.3 The Customer, as principal, is obligated to compensate DNB for any expense incurred by DNB in connection with the documentary credit as a result of foreign laws, customs or practices. 17.4 Any enclosure to a Letter of Credit Application Form sent to DNB in connection with the request for issuance of a documentary credit , is provided solely as information to DNB, and should not be regarded as part of the documentary credit. DNB is in no way affected by or liable for such enclosures even if the documentary credit includes references to such. 17.5 The Customer hereby undertakes to ensure that any licences or other permits required in connection with documentary credit transactions according to regulations in any country involved, are obtained from the relevant authorities. 17.6 The Customer undertakes to pay DNB, upon the latter’s request, the amount of the documentary credit plus interest and expenses. Until such payment has been effected, all documents and goods will be retained as collateral. 17.7 The Customer hereby authorises DNB to endorse or give receipt of documents issued to our order on our behalf.17.7 This also applies to any insurance documents / agreements issued in our name and in our favour used in a documentary credit transaction. 17.8 In the event that the terms of the documentary credit requires elements of insurance, to comply with applicable Sales of Goods Act, and or Incoterms, , the Customer must ensure that transport insurance is in force. The minimum condition is "All risks – A" along with any necessary additional coverage for special types of goods. Unless otherwise stated, the minimum coverage must be the amount of the documentary credit plus 10 percent.

16.8 DNB may not reduce or cancel a guarantee without written confirmation from the beneficiary (the guarantee creditor), except in accordance with the terms and conditions set out in the guarantee.

17.9 The Customer undertakes to pay DNB's claims in accordance with the bank's specifications, as advised by the foreign bank, even if the relevant documents have not been received by DNB, regardless of whether this is due to delays or any other circumstances, including loss of the documents.

16.9 If a guarantee was issued without a specific expiration date, it can be terminated by the return of the guarantee document to the bank along with confirmation from the beneficiary that the guarantee is to be cancelled, or if the beneficiary sends a letter to DNB releasing the bank from its guarantee liability.

17.10 The Customer accepts its responsibility to check the documents as soon as they are received from DNB. In the event that the documents contain any discrepancies and the Customer finds these unacceptable, the Customer must immediately return the documents in question to DNB, pointing out the errors/omissions which are to be rectified.

17 Special terms in connection with Documentary Credits

17.11 In the event that the Customer receives documents containing unacceptable discrepancies but does not return the said documents to DNB as set out above, the Customer shall be precluded from claiming that the documents are not in compliance with the terms and conditions of the documentary credit agreement. If the Customer receives the documents stipulated in the documentary credit agreement directly from the beneficiary, the advising bank or another bank, the Customer is required to forward these documents to DNB without delay.

Import

Under the Import chapter the Applicant is defined as Customer

17.1 The Customer accepts and agrees that the documentary credit amount may immediately be transferred to the foreign advising bank , or to one of its correspondents provided the terms in the Credit have been complied with. This also applies to long-term documentary credits. In connection with such crossborder transfers, the Customer is subject to the same restrictions as DNB.

DNB Bank ASA, PO box 1600 Sentrum 0021 Oslo

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Terms and Conditions for Trade Finance- and Guarantee transactions on dnb.no/corporate 17.12 If the goods specified in the documentary credit reach the place of delivery or the port of discharge prior to the arrival of the specified shipping documents, the Customer agrees that any "goods-free-position-stand", against the issuance of a guarantee, letter of indemnity or similar in favour of the carrier, its appointed agent or freight forwarder, will be for the Customer’s account and liability. 17.13 Unless otherwise stipulated in the documentary credit, the Customer accepts and agree that once the goods covered by the Documentary Credit have been received, by means of Guaranty arrangements described above under § 17.13, the Customer loses its right to object to the documents presented. The Customer is thus obliged to accept the documents in whatever form or condition they are presented. 17.14 The Customer accepts and agrees that DNB is not liable or responsible for the form, adequacy, accuracy, genuineness, falsification or legal effect of any document(s), or for the general and/or particular conditions stipulated in the document(s) or superimposed thereon; nor will DNB assume any liability or responsibility for the description, quantity, weight, quality, condition, packing, delivery, value or existence of the goods represented by any document(s) or for the good faith or acts and/or commission, solvency, performance or standing of the consignor, the carriers, the forwarders, the consignees or the issuers of the goods, or any other person whomsoever as stated in the documents presented to the Customer in connection with the documentary credit transaction. 17. 15 In the event that the Customer fails to perform its obligations, DNB has the right to dispose of the goods to cover the documents presented, in whatever manner DNB considers to be appropriate. If necessary the goods may be sold at a public auction or directly to the party DNB considers to be most suitable. Such sale will be carried out for the Customer’s account, with no obligation whatsoever on the part of DNB, and with no consideration to any other party with claims in the same goods. Transferable Letter of Credit Under this Chapter the 1st beneficiary is defined as Customer 17.16 The condition for the transfer is that the documentary credit explicitly states that DNB is a party to the documentary credit transaction and is authorised to pay or to negotiate (discount) presented documents, whether at sight or at a later date, as indicated in the credit agreement, and also that DNB is authorised to transfer the credit. As the first beneficiary, the Customer must give irrevocable instructions to DNB, stating whether or not the Customer will retain the right to prohibit DNB from advising any amendments made under the credit to any second beneficiary(s) to whom the documentary credit is transferred. 17. 17 In the event that the documentary credit is to be transferred to several parties, possible rejections of amendment(s) by one or more of said parties will not affect the approval of such amendment(s) by the other parties, and for these parties, the documentary credit will be deemed as having been amended correspondingly. If any of the parties reject such amendment(s), the documentary credit will be considered as not amended for said party/parties.

DNB Bank ASA, PO box 1600 Sentrum 0021 Oslo

17. 18 Unless otherwise stated in the documentary credit , the Customer accepts and agrees that DNB can only transfer the documentary credit once. This means that a second beneficiary is not permitted to retransfer the credit or parts thereof to any third parties. However, retransfers back to the Customer will be permitted. 17. 19 Parts of a transferable documentary credit, which in total cannot exceed amount of the original documentary credit, may be transferred separately, provided that that the documentary credit agreement permits partial shipments and partial payments. 17. 20 The Customer acknowledges and accepts the condition that a documentary credit may only be transferred with the exact terms and conditions set in the original documentary credit, with the exception of the following which may all be reduced or changed: - The credit amount - The unit price of the goods - The expiration date of the credit - The latest date of shipment - The presentation period for the required documents 17. 21 In the event that documentary credit agreement stipulates that insurance documents must be presented, the relative percentage for which insurance is taken out, may be increased so as to correspond with the amount of cover stipulated in the second beneficiary's commercial invoice(s), which the customer intends to replace with commercial invoice(s) presented by the party or parties to whom the documentary credit has been transferred. In addition, the original principal’s name in the credit document may be replaced with the Customer’s name and the name(s) of the party or parties to whom the credit is transferred. Notwithstanding, the Customer accepts and agrees that if the original credit agreement states that the name of the original applicant/principal must appear on other documents (with the exception of the commercial invoice) the Customer must comply with this requirement. 17. 22 The Customer accepts and agrees that his right to substitute commercial invoice(s) and draft(s) / bill(s) of exchange that were to be presented to DNB by the company/companies the documentary credit is in favour of, for the total amount and unit price, is limited to the amount or unit price stipulated in the original documentary credit, at the most. By such substitution of commercial invoice(s) or draft(s)/bill(s) of exchange, the first beneficiary must agree that payment under the credit, will be limited to a possible balance between the documents presented by the first beneficiary and the corresponding documents presented by the second beneficiary(s) to whom the documentary credit is transferred. 17. 23 Upon being advised by DNB that the second beneficiary's invoice and bill of exchange (if any) has been received for substitution with that of the Customer, the Customer agrees that if his invoice and bill of exchange (if any) is not presented to DNB upon the first demand, DNB will present the second beneficiary's documents to the issuing or other bank named in the credit for payment. 17. 24 In the event that the second beneficiary / beneficiaries are supposed to forward their documents directly to the issuing bank or to another bank specified in the documentary credit, the first beneficiary must indemnify DNB in full for any such action taken.

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Terms and Conditions for Trade Finance- and Guarantee transactions on dnb.no/corporate 17. 25 In the event that the second beneficiary or beneficiaries is/are unable to fulfil the terms and conditions of the documentary credit DNB is under any no obligation to effect or to give a promise of payment(s) of any kind, until such documents have been approved by the issuing bank, or another bank specified in the documentary credit and after DNB has received satisfactory payment instructions from the current bank. 17. 26 Even if a documentary credit has been issued as transferable, DNB is under no obligation to effect the transfer of such documentary credit. The fact that DNB has added its confirmation or guaranteed payment(s), the credit does not give any kind of automatic commitment to transfer the documentary credit upon request. 17. 27 Unless otherwise agreed, all of DNB’s fees and charges in connection with a transfer(s) are to be for the Customer’s account and shall be paid full prior to such transfer(s). 17. 28 The Customer is familiar with and accepts the rules pertaining to the transfer of documentary credits approved by the International Chamber of Commerce. In connection with transfers of documentary credits through banks where these rules are not applicable, local rules will be followed in accordance with prevailing practice such banks. Export Under the Export chapter the Beneficiary is defined as Customer 17. 29 The Customer agrees that when new Documentary Credits, including "pre-advices" and amendments to already advised credits, are received by DNB, incoming text will be sent directly to the customer. A separate advice letter from DNB will be sent along with the incoming text. Such letters of advice do not require hand-written signatures from DNB but will be deemed as valid and genuine when transmitted via TF/G Online. No confirmation will be forwarded by regular mail. 17. 30 In the event that the documentary credit requires presentation of the original credit advice along with the documents stipulated in the documentary credit, this requirement will be deemed as having been met if the documentary credit in question has previously been advised by DNB via TF/G Online 17. 31 In the event that the customer requires receipt of the "original" letter of advice and subsequent amendment(s) if any, these will be sent upon request. 17. 32 In the event where the principal bank, or DNB itself, asks the customers for their acceptance of any special terms or conditions in the credit or subsequent amendment(s) if any, such acceptance may be effected via TF/G Online or by agreement in writing. 17. 33 In the event that the principal bank requests DNB to advise documentary credits and any subsequent amendment(s) through other banks, for practical reasons this will not be effected by DNB. As a consequence of this, the customer will be advised directly of all credits and subsequent amendment(s) thereto, received by DNB in favour of the customer.

DNB Bank ASA, PO box 1600 Sentrum 0021 Oslo

DNB will then notify the principal bank that such action has been taken. 17. 34 The Customer accepts that in connection with settlement in exchange for documents presented to DNB, all essential information pertaining to availability, payments of all types, maturity dates and the like will be sent via TG/G Online , and consequently no written confirmation will follow. Such computerised letters of advice do not require any written signatures from DNB but will deemed as valid and genuine when transmitted. 17. 35 It is the Customer’s responsibility to check the online system for advices, settlements or other kind of information transmitted from DNB. The Customer is familiar with the Uniform Customs and Practice for Documentary Credits issued by the International Chamber of Commerce, Paris, and agrees that the rules set out therein shall apply to all documentary credits encompassed by this agreement .

18 Special terms in connection with Documentary Collections Export 18.1 As principal, giving the collection order to DNB, the Customer is required to indemnify DNB for all expenses incurred in connection with the collection order, in accordance with the law and practice in the relevant country. The Customer is subject to the same restrictions as DNB with regard to use of the Customer’s funds in other countries. 18.2 The Customer is responsible for obtaining any license or permit required by Norwegian authorities or those of another country in connection with the documents presented in this collection order. 18.3 According to the ICC Uniform Rules for Collections, goods must not be sent/addressed to the buyer's bank. The freight document must not be issued to said bank’s order, without the bank’s prior consent. In the event that this is done with the bank’s prior consent, the bank in question is not obliged to accept or take care of such goods, or endorse such documents, the documents will be for the Customer’s (shipper’s) account and risk, until the relevant goods are released. 18.4 The Customer agrees that if the goods are released without payment having been made, or if the draft has not been accepted or the written undertaking or equivalent not has not been provided, or subsequent payment not has been promised, DNB is not in any way committed by actions or dispositions carried out by the buyer’s bank. DNB is not liable for any loss, delay or missing documents. The Customer also agrees that DNB is not responsible for the documents’ correctness, completeness, authenticity, falsification or legal boundary or for unusual and/or special conditions mentioned in or added to the documents. Nor does DNB accept any responsibility for the description, quantity, weight, quality, condition, packaging, delivery, value or existence of the goods specified in the documents, or for the shipper’s, forwarder’s, underwriter’s, or any other person’s honesty or actions and/or omission, solvency, judgment, or fulfilment of their obligations in relation to documents presented to DNB for collection purposes.

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Terms and Conditions for Trade Finance- and Guarantee transactions on dnb.no/corporate 18.5 DNB is not responsible for mistakes or omissions made by correspondent bankers, including the failure to present documents, protest of drafts, warehousing of goods or similar, nor for whether any signature is legally binding in connection with the issuance or acceptance of bills of exchange. 18.6 Unless otherwise instructed by the Customer, DNB will not protest non-payment of Bills of Exchange at maturity, nor will the correspondent bank arrange for the protest of such a bill of exchange. The Bill of Exchange will then, according to local legislation regarding Bills of Exchange, be an unpaid non-priority claim without local legal protection. If the customer fails to inform DNB of the name of the specific correspondent bank (the buyer’s bank), the Customer agrees that DNB may select this bank on its own. In any event DNB is not liable for any mistakes and/or omissions committed by such correspondent banks. Unless otherwise instructed by the Customer, all collection orders will be handled in accordance with the ICC uniform rules for collections. Import 18.7 The Customer agrees that DNB, as the presenting bank, only acts as an intermediary between the parties and can therefore not be held responsible for the underlying contract(s) and/or goods. This also applies to forwarders, insurance companies or similar parties. DNB is not required to check or verify details in the documents. 18.8 The Customer (the drawee) shall have the opportunity to examine the documents before honouring them but the selection of samples, inspection, re-packaging, re-shipment of the goods etc. must be approved by the bank’s principal in advance. The drawee is not entitled to instruct the bank to return the documents.

In accordance with the instructions DNB receives from its principal, Bills of Exchange and the like will be handled in accordance with the rules for handling Bills of Exchange. (Protest, notification. endorsements, etc.). 18.14 DNB is not responsible for demurrage, warehouse rent, warehousing or if insurance for goods that have arrived has not been paid. Depending on the underlying contract any expenses incurred in such connection shall be paid by the drawee. If specially asked to do so DNB may undertake the responsibility for warehousing of and insurance of the goods. 18.15 If the shipping documents arrive too late in relation to the arrival of goods, DNB can arrange for delivery of the goods. This also applies to for air freight showing DNB as the consignee/receiver of the goods. Such delivery of the goods means that DNB guarantees payment on behalf the drawee, and the release of the goods is therefore subject to DNB’s handling of guarantee facilities. It is important that the buyer of the goods, when using this solution, knows that he has, in advance, already approved the terms and conditions received in a subsequent collection order. This is because the guarantee does not expire until the guarantee instrument is replaced by the original transport document. The transport document cannot replace the guarantee before conditions of the collection order have been met. 18.16 All collection orders that are presented to DNB will be handled in accordance with the rules set out in the ICC Uniform and Practice For Collections as they apply from time to time unless otherwise instructed by the principal.

18.9 Conditions/instructions, or parts of these, disputed by the customer, can only be changed by DNB subject to the approval of the principal. 18.10 DNB is not responsible for items lost in transit by post or courier service. Nor is DNB responsible for loss of interest or other consequences attributable to other financial institutions, or other parties, who are outside the control of DNB but have to be involved in order to effect the collection in accordance with the instructions set out in the collection order. 18.11 The Customer is required to comply with the payment instructions specified in advice of collection presented by DNB. If the Customer is unable to do so, the Customer must inform the bank so DNB can forward this information to its principals. 18.12 If the Customer refuses to pay DNB’s charges, these will be deducted before settlement is remitted to the principal. Complaints regarding deduction will be addressed and must be handled by the Customer. DNB will ask the principal for instructions if the document remains unpaid. 18.13 Drafts (unaccepted bills of exchange) that are presented to drawee for acceptance must be accepted (signed) by a duly authorised person.

DNB Bank ASA, PO box 1600 Sentrum 0021 Oslo

Register of Business Enterprises NO 984 851 006 page 7 of 7

Version 2011.11