THE MECHANISM OF A CONFIRMED LETTER OF CREDIT WORKS AS FOLLOWS

19.The mechanism of a confirmed letter of credit works as follows:

E. Buyer instructs issuing bank to issue a letter of credit in favor of the seller

F. Buyer instructs issuing bank to instruct an advising bank to pay under a

letter of credit in favor of the seller

G. Buyer instructs issuing bank to instruct a confirming bank to pay under

a letter of credit in favor of the seller

H. Buyer instructs issuing bank to instruct any third bank to under letter of

credit in favor of the seller