ARIEL MARITIME (U.K.) LTD.

Ships Agents – Chartering – Cargo Consolidation – N.V.O. C. C. - International Freight Forwarding

Registered Office – MANCHESTER OFFICE

26 Modwen Road, Waters Edge Business Park

Salford Quays, Manchester, M5 3EZ, U.K.

Phone: (0) 161 8489009 Fax: (0) 161 8489511 E-mail:

LONDON AREAOFFICE

Ground Floor, Unit 1, Invicta Park

Sandpit Road, Dartford, Kent DA1 5BU

Tel: 0 1322 475555 Fax: 0 1322 280721 E-mail:

CREDIT AGREEMENT

It is hereby agreed that in consideration for the extension of credit through the issuance and release of 'Bills of Lading' indicating that freight is payable on a 'Freight Prepaid' basis that the below named and undersigned exporter hereby agrees to the following:

  1. To pay Ariel Global Logistics / Ariel Maritime (UK) Ltd. within [15] working days excluding Saturday, Sunday and legal holidays after the date of the issuance of the said B/L. Such payment should be in full without setoff or counter claim and including all freight and ancillary charges due on the said Bill of Lading.
  2. The undersigned exporter agrees to be absolutely and unconditionally responsible to see that all the freight and charges due on the said B/L are paid within [15] day period. They further guarantee that these charges will be paid to Ariel Global Logistics / Ariel Maritime (UK) Ltd. under all circumstances.
  3. These credit privileges will be suspended with immediate effect for failure to comply with the provisions of this agreement.
  4. Should this agreement be violation Ariel Global Logistics / Ariel Maritime (UK) Ltd. shall by virtue of this agreement be granted a lien of the cargo in question that has been shipped.
  5. It is understood and agreed that the granting of any credit to the extent permitted under this agreement is at the sole discretion of Ariel Global Logistics / Ariel Maritime (UK) Ltd. and can be withdrawn at any time.
  6. The agreement shall continue in effect until terminated by written notice by Ariel Global Logistics / Ariel Maritime (UK) Ltd. or the exporter named below providing however that termination shall not extinguish any existing liabilities hereunder.

Dated this dayof 20

Exporter (Company Name)Persons Name

Address:

By authorized signer of exporter:

Accepted by Ariel Global Logistics / Ariel Maritime (UK) Ltd.or their authorized agent:

Signature:Name:Title:Date:

All business transactions are subject to our trading conditions, copies of which are available upon request. Financial or contractual commitments that might bind the company in any way must be given in writing only and will only be valid under the signature of the Managing Director or Chairman.

Reg. No. 1533534 England VAT No GB 306 4213 00