OTHER CONDITIONS FOR OPENING LETTER/S OF CREDIT a) The Opener has made / will make adequate arrangement for retiring the bills under the respective Letters of Credit and do not contemplate to seek any financial assistance from the opening Bank for the purpose. b) The Opener agrees to the negotiations of the drafts drawn under the respective Letter of Credit being confined to the Branches of Opening Bank or agencies or to any Bank acceptable to the opening Bank. c) The opener agrees that drawings under the Letter(s) of Credit shall be by way of Demand Documentary Bill (on D/P basis) accompanied by document of title to goods. Where usance bills are presented (with D/A terms) drawings be allowed against document of title to goods only. Where the bills are not accompanied by title to goods the opener specifically agrees to provide securities to the extent of the full amount of the bill without which it shall not be incumbent upon the Bank to allow any drawing under such clean bills. d) The Opener agrees that each application that may be made for opening Letters of Credit shall be deemed to have been accepted and the Letters of Credit shall be deemed to have been established when written advice thereof has been sent by the opening Bank to the Beneficiary. e) The Opener agrees and confirms that the respective Letters of Credit may be amended and / or modified by the Opening Bank in its absolute discretion, including for an increased amount(s) on giving written instructions for the same and in such an event, such amendment(s) / modification(s) will be deemed to form part of the respective applications for Letters of Credit and will be governed by the terms hereof and the Opener agrees, covenants, records and confirms that they all be bound by the same as if such amendment(s) / modification(s) including the increased amount(s) had originally constituted the term of the respective Letters of Credit.
