Under Letter of Credit. The Buyer shall, one month prior to the date of delivery, open an irrevocable letter of credit, in favor of the Seller, for the total value of shipment. The Credit shall be available against Seller’s draft(s) drawn at sight on the opening bank for 70% invoice value accompanied by the shipping documents specified in Clause 11 hereof. 10% invoice value accompanied by Certificate of Acceptance, signed and stamped by the End-user (Tsinghua University), also signed and stamped by the Buyer and the Seller in one original and one copy. Payment shall be effected by the opening bank,
Under Letter of Credit. The Buyer shall, one month prior to the date of