ATTN.

:
.
WE BANCO XXXXXXXXXXXXX, HEREBY OPEN OUR IRREVOCABLE STANDBY LETTER OF
CREDIT NUMBER XXXXXXXX IN FAVOR OF BANCO SANTANDER CHILE , UP TO THE
AMOUNT OF USD XXX.XXX,XX (EXXXXXXXXXXXXXXXX DOLLARS U.S.A.) FOR
ACCOUNT OF (NAME OF APLICANT), EXPIRING AT YOUR OFFICE ON (MONTH, DAY, YEAR)
TO GUARANTEE TO BANCO SANTANDER CHILE, PAYMENT OF CREDIT FACILITIES
GRANTED TO (NAME OF BENEFICIRY CREDIT).
.
WE UNDERTAKE TO PAY TO (BANCO SANTANDER CHILE). ANY SUM UP TO THE
AGGREGATE AMOUNT OF USD XXX.XXX,XX, ON FIRST DEMAND, UPON RECEIPT ITS
DEMAND BY AUTHENTICATED SWIFT MESSAGE STATING THAT :
QUOTE.
WE (BANCO SANTANDER CHILE) CERTIFY THAT (NAME OF BENEFICIARY CREDIT
FACILITIES) HAS FAILED IN PAYMENT OF LOAN OR OBLIGATIONS AND INTEREST
ACCRUED OR ANY OTHER COSTS, TAXES, ETC., ARISING FROM SAID CREDIT FACILITIES
THAT HAVE BEEN GRANTED TO (NAME OF BENEFICIARY CREDIT FACILITIES) BY (BANCO
SANTANDER CHILE)
UNQUOTE.
.
TWO (2) BUSINESS DAYS AFTER RECEIPT OF AUTHENTICATED SWIFT DEMAND WE WILL
REIMBURSE IN ACCORDANCE WITH (BANCO SANTANDER CHILE) INSTRUCTIONS, UP TO
THE AMOUNT OF USD XXX.XXX,XX.

WE HEREBY AGREE WITH YOU THAT ANY DRAW (S) UNDER AND IN COMPLIANCE WITH
THE TERMS AND CONDITIONS OF THIS STANDBY LETTER OF CREDIT SHALL BE DULY
HONOURED. FUNDS WILL BE CREDITED IN ACCORDANCE WITH YOUR INSTRUCTIONS.
.
PARTIAL DRAWINGS ARE ALLOWED.
.
THIS MESSAGE IS THE OPERATIVE INSTRUMENT AND NO WRITTEN
CONFIRMATION WILL FOLLOW.
.
THIS STAND BY LETTER OF CREDIT IS SUBJECT TO THE INTERNATIONAL
STANDBY PRACTICES OF THE INTERNATIONAL CHAMBER OF COMMERCE,
ISP98, EFFECTIVE JANUARY 1.999