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SEQUENCE OF TOTAL: 1/1

FORM OF DC: IRREVOCABLE

DC NO: DC TAI821214

DATE OF ISSUE: 181222

APPLICABLE RULES: UCP LATEST VERSION

EXPIRY DATE AND PLACE: 190209IN COUNTRY OF BENEFICIARY

APPLICANT: WEL-HUNT MATERIALS ENTERPRISE CO.,

LTD., NO. 156, CINGNIAN 1ST ROAD,

SINSING DISTRICT, KAOHSIUNG CITY,

TAIWAN

BENEFICIARY: PEABODY COALSALES PACIFIC PTY LTD

100 MELBOURNE STREET, SOUTH

BRISBANE, QLD 4101 AUSTRALIA

DC AMT: USD5493050,00

PCT CR AMT TOLERANCE: 15/15

AVAILABLE WITH/BY: ANY BANK

BY NEGOTIATION

DRAFTS AT: SIGHT FOR FULL INVOICE VALUE

DRAWEE: ISSUING BANK

PARTIAL SHIPMENTS: ALLOWED

TRANSHIPMENT: NOT ALLOWED

LOADING PORT/DEPART AIRPORT: DALRYMPLE BAY COAL TERMINAL, QUEENSLAND, AUSTRALIA

DISCHARGE PORT/DEST AIRPORT: ANY PORT OR ANCHORAGE IN VIETNAM

LATEST DATE OF SHIPMENT: 190105

GOODS: FOB DALRYMPLE BAY COAL TERMINAL, QUEENSLAND, AUSTRALIA

COMMODITY : AUSTRALIAN THERMAL COAL IN BULK

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ORIGIN : AUSTRALIA

QUANTITY : 61,000 MTS (+/-10%)

UNIT PRICE: USD90.05/MT

QUALITY : ACCORDING TO ISO STANDARDS

SPECIFICATIONS:

SPECIFICATION TYPICAL REJECTION LIMIT

TOTAL MOISTURE (ARB) 10.5 PCT 14.0 PCT MAX

INHERENT MOISTURE (ADB) 3.0 PCT NONE

ASH (ADB) 14.0 PCT 17.0 PCT MAX

TOTAL SULPHUR (ADB) 0.5 PCT 0.8 PCT MAX

VOLATILE MATTER (ADB) 16.5 PCT 19.5 PCT MAX

NET CALORIFIC VALUE (ARB) 6,400 KCAL/KG 6,200 KCAL/KG MIN

HGI 85 NONE

SIZE 0-50MM ABOVE 90 PCT 90PCT MIN

DOCUMENTS REQUIRED: +COMMERCIAL INVOICE IN 3 ORIGINALS AND 3 COPIES, ISSUED BY

BENEFICIARY.

+FULL SET (3/3) OF ORIGINAL AND 3 NON-NEGOTIABLE COPIES OF CLEAN

SHIPPED ON BOARD BILL OF LADING, MADE OUT TO ORDER AND BLANK

ENDORSED, MARKED 'FREIGHT PAYABLE AS PER CHARTER PARTY',

SHOWING GROSS WEIGHT AND NOTIFY PARTY AS: WELHUNT VIET NAM

COMPANY LIMITED, 06TH FLOOR, MAPLETREE TOWER BUSINESS CENTER,

1060 NGUYEN VAN LINH, TAN PHONG WARD, DISTRICT 7, HO CHI MINH

CITY, VIETNAM.

+CERTIFICATE OF WEIGHT IN 1 ORIGINAL AND 2 COPIES, ISSUED AT

LOADING PORT BY INDEPENDENT SURVEYOR.

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+CERTIFICATE OF ANALYSIS IN 1 ORIGINAL AND 2 COPIES, ISSUED AT

LOADING PORT BY INDEPENDENT SURVEYOR.

+CERTIFICATE OF ORIGIN IN 1 ORIGINAL AND 2 COPIES, ISSUED AT

LOADING PORT BY INDEPENDENT SURVEYOR.

+DRAFT SURVEY REPORT IN 1 ORIGINAL AND 2 COPIES, ISSUED AT

LOADING PORT BY INDEPENDENT SURVEYOR.

+CERTIFICATE OF HOLD CLEANLINESS IN 1 ORIGINAL AND 2 COPIES,

ISSUED AT LOADING PORT BY INDEPENDENT SURVEYOR.

+BENEFICIARY'S STATEMENT CERTIFYING THAT ONE SET OF NON-

NEGOTIABLE/SCANNED COPY OF SHIPPING DOCUMENTS (INCLUDING

COMMERCIAL INVOICE, BILL OF LADING, CERTIFICATE OF ORIGIN,

CERTIFICATE OF WEIGHT, CERTIFICATE OF ANALYSIS, DRAFT SURVEY

REPORT, CERTIFICATE OF HOLD CLEANLINESS) HAS BEEN E-MAILED TO

THE APPLICANT (E-MAIL ADDRESS: PHOENIX.KAO(AT)WELHUNT.COM,

IRIS.LY(AT)WELHUNT.COM, ASHLEY.TRAN(AT)WELHUNT.COM) WITHIN 08

(EIGHT) WORKING DAYS AFTER THE B/L DATE.

ADDITIONAL CONDITIONS: +T/T REIMBURSEMENT IS NOT ALLOWED.

+THIRD PARTY DOCUMENTS ARE ACCEPTABLE EXCEPT COMMERCIAL INVOICE,

DRAFT AND BENEFICIARY'S STATEMENT.

+10 PCT MORE OR LESS IN TOTAL QUANTITY IS ALLOWED.

+DOCUMENTS PRESENTED WITH MISSPELLING OR TYPING ERRORS THAT DO

NOT AFFECT THE MEANING OF A WORD OR SENTENCE IN WHICH THEY

OCCUR, DO NOT MAKE A DOCUMENT DISCREPANT UNLESS SUCH ERRORS

RELATED TO PRICE, QUANTITY, QUALITY, SIZE AND DELIVERY TERMS,

AND SO AFFECT THE MEANING.

+CHARTER PARTY BILL OF LADING ARE ACCEPTABLE.

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+TOTAL QUANTITY SPLIT INTO EACH BILL OF LADING ARE ACCEPTABLE.

+IF BILLS OF LADING SHOWING CHARTER PARTY'S DATE PRIOR TO

THIS DC ISSUING DATE OR DIFFERENT FROM THE B/L ISSUING DATE IS

ACCEPTABLE.

+ALL DOCUMENTS EXCEPT COMMERCIAL INVOICE AND BENEFICIARY'S

STATEMENT MUST BE ISSUED SEPERATELY FOR EACH BILL OF LADING, IF

ANY.

+CERTIFICATE OF ANALYSIS SHOWING ACTUAL RESULTS OF

SPECIFICATIONS DIFFERENT FROM THE TYPICAL SPECIFICATIONS LISTED

IN DESCRIPTION OF GOODS BUT WITHIN THE REJECTION LIMIT ARE

ACCEPTABLE.

+DOCUMENTS INDICATING DIFFERENT DC NUMBER AND DATE ARE

ACCEPTABLE.

+ALL DOCUMENTS MUST BE SIGNED AND DATED.

+UNLESS OTHERWISE EXPRESSLY STATED, ALL DOCUMENTS CALLED FOR

UNDER THE CREDIT MUST BE IN THE LANGUAGE OF THE CREDIT.

+BILLS OF LADING PRESENTED IN INCOMPLETE PAGE ARE NOT ACCEPTABLE.

+ALL CERTIFICATES SHOWING ANY PARTY OR COMPANY NAME, EXCEPT THE

NAME OF ISSUER, IS NOT ACCEPTABLE.

+FORWARDER B/L, SHORT FORM B/L, HOUSE B/L, BLANK BACK B/L ARE

NOT ACCEPTABLE.

+DC AMOUNT MAY BE OVERDRAWN OR UNDERDRAWN WITHIN 15PCT TOLERANCE

DUE TO QUALITY ADJUSTMENT (FOLLOW BY THE FORMULA OF ADJUSTMENT

IN PRICE FOR VARIATION AS BELOW.)

+QUALITY ADJUSTMENT:
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IN CASE THE QUALITY OF THE GOODS DETERMINED BY INDEPENDENT

SURVEYOR AT LOADING PORT DOES NOT CONFORM TO THE QUALITY

SPECIFICATION OF THE GOODS SPECIFIED IN THE FIELD 45A IN THIS

LETTER OF CREDIT.

IF THE ACTUAL NET CALORIFIC VALUE (ARB) AS DETERMINED BY THE

CERTIFICATE OF ANALYSIS ISSUED AT THE LOADING PORT, VARIES FROM

6,400 KCAL/KG, THE UNIT PRICE OF THAT SHIPMENT SHALL BE ADJUSTED

PER THE FOLLOWING FORMULA:

ADJUSTED UNIT PRICE EQUAL USD90.05 PER MT X ACTUAL NET CALORIFIC

VALUE (ARB) / 6,400 KCAL/KG NET CALORIFIC VALUE (ARB)

+ABBREVIATION USED UNDER THIS CREDIT:

1) 'ARB' EQUALS 'AS RECEIVED BASIS' EQUALS 'AR' EQUALS 'AS

RECEIVED',

2) 'ADB' EQUALS 'AIR DRY BASIS' EQUALS 'AD' EQUALS 'AIR DRY'

EQUALS 'AIR DRIED BASIS' EQUALS 'AIR DRIED',

3) 'NCV' EQUALS 'NET CALORIFIC VALUE',

4) 'NAR' EQUALS 'NET CALORIFIC VALUE AS RECEIVED BASIS',

5) 'MT' EQUALS 'MTS' EQUALS 'M/TONS' EQUALS 'M/TONNES' EQUALS

TO 'M/TON' EQUALS 'M/TONNE' EQUALS 'METRIC TONS'

EQUALS 'METRICTONNES' EQUALS 'METRIC TONNE' EQUALS 'METRIC

TON' EQUALS 'TNE',

6) 'HGI' EQUALS 'HARDGROVE GRINDABILITY INDEX'

EQUALS 'HARDGROVE INDEX',

7) 'TOTAL SULPHUR' EQUALS 'SULPHUR' EQUALS 'SULPHUR CONTENT'

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EQUALS 'SULPHUR TOTAL',

8) 'ASH CONTENT' EQUALS 'ASH',

9) 'SIZE (0-50MM)' EQUALS 'SIZE 0-50MM' EQUALS 'SIZING (0-

50MM)' EQUALS 'SIZING 0-50MM',

10) 'PERCENT' EQUALS 'PCT' EQUALS 'PERCENT SYMBOL'.

+PERIOD OF PRESENTATION:

WITHIN 18 DAYS AFTER THE DATE OF SHIPMENT BUT WITHIN THE

VALIDITY OF THE CREDIT.

+IF THE DC IS CONFIRMED, THEN THE DC IS RESTRICTED TO THE

CONFIRMING BANK BY PAYMENT, THE DRAWEE SHOULD BE THE CONFIRMING

BANK. THIS DC COULD BE ADDED CONFIRMATION BY THE FIRST ADVISING

BANK OR THE SECOND ADVISING BANK.

+IN ACCORDANCE WITH THE PROVISIONS OF ARTICLE 16C (III)(B) OF

UCP600,IF WE GIVE NOTICE OF REFUSAL OF DOCUMENTS PRESENTED UNDER

THIS CREDIT WE SHALL HOWEVER RETAIN THE RIGHT TO ACCEPT A WAIVER

OF DISCREPANCIES FROM THE APPLICANT AND,SUBJECT TO SUCH WAIVER

BEING ACCEPTABLE TO US,TO RELEASE DOCUMENTS AGAINST THAT WAIVER

WITHOUT REFERENCE TO THE PRESENTER PROVIDED THAT NO WRITTEN

INSTRUCTIONS TO THE CONTRARY HAVE BEEN RECEIVED BY US FROM THE

PRESENTER BEFORE THE RELEASE OF THE DOCUMENTS.

ANY SUCH RELEASE PRIOR TO RECEIPT OF CONTRARY INSTRUCTIONS SHALL

NOT CONSTITUTE A FAILURE ON OUR PART TO HOLD THE DOCUMENTS AT

THE PRESENTER'S RISK AND DISPOSAL, AND WE WILL HAVE NO LIABILITY

TO THE PRESENTER IN RESPECT OF ANY SUCH RELEASE.

+A USD100.- OR EQUIVALENT FEE SHOULD BE DEDUCTED FROM THE

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REIMBURSEMENT CLAIM FOR EACH PRESENTATION OF DISCREPANT

DOCUMENTS UNDER THIS DOCUMENTARY CREDIT. NOTWITHSTANDING ANY

INSTRUCTIONS TO THE CONTRARY, THIS CHARGE SHALL BE FOR THE

ACCOUNT OF BENEFICIARY.

+REIMBURSEMENT/PAYMENT CHARGES OF USD100.- OR EQUIVALENT AND

RELATED CABLE FEE FOR EACH PRESENTATION IS FOR ACCOUNT OF

BENEFICIARY AND IT WILL BE DEDUCTED FROM THE PROCEEDS AT PAYMENT.

+UNLESS OTHERWISE STIPULATED, ALL BANKING CHARGES OUTSIDE TAIWAN

ARE FOR ACCOUNT OF BENEFICIARY. ALL BANKING CHARGES INSIDE

TAIWAN ARE FOR ACCOUNT OF APPLICANT.

+DOCUMENTS MUST BE DESPATCHED IN ONE LOT BY COURIER TO THE

ISSUING BANK: HSBC BANK (TAIWAN) LIMITED, 12F, NO. 369, SECTION

7, ZHONGXIAO EAST ROAD, NANGANG DISTRICT, TAIPEI CITY 115, TAIWAN

ATTN:GLOBAL TRADE AND RECEIVABLES FINANCE.

DETAILS OF CHARGES: CONFIRMATION CHARGES ARE FOR

ACCOUNT OF BENEFICIARY/EXPORTER

CONFIRMATION INSTRUCTIONS: MAY ADD

REQUESTED CONF. PARTY: ANZ BANK

SYDNEY

(NBFI AGENCY TO 012-000)

SYDNEY 2000

INSTR TO PAYG/ACCPTG/NEGO BK:+ON RECEIPT OF DOCUMENTS CONFORMING TO THE TERMS OF THIS

DOCUMENTARY CREDIT BY THE ISSUING BANK, WE UNDERTAKE TO REIMBURSE

YOU IN THE CURRENCY OF THIS DOCUMENTARY CREDIT IN ACCORDANCE WITH

YOUR INSTRUCTIONS.

+NEGOTIATING BANK'S DISCOUNT AND/OR INTEREST, IF ANY, PRIOR TO

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REIMBURSEMENT BY US ARE FOR ACCOUNT OF BENEFICIARY.

+PLEASE ALSO STATE THE APPROPRIATE ABA NO. AND CHIPS UID ON YOUR

COVERING SCHEDULE TO US.