27: Sequence oftotal

1/2

40A: FORM OF DOCUMENTARY CREDIT

IRREVOCABLE, TRANSFERABLE

20: DOCUMENTARY CREDIT NUMBER

OS/3/0705/83

31C: DATE OF ISSUE

15.03.20..

31D: DATE AND PLACE OF EXPIRY

21.05.20.. SWITZERLAND

50: APPLICANT

SOFT COTTON IMPORTERS LTD. TOKYO/JAPAN

:59: BENEFICIARY

TRANSIT AG

P.O. BOX

CH-8021 ZURICH/SWITZERLAND

:32B: CURRENCY CODE, AMOUNT

APPROX. USD

:41A: AVAILABLE WITH____ BY____

LUDIN BANK OF SWITZERLAND, CH-8021 ZURICH BY PAYMENT AT SIGHT

43P: PARTIAL SHIPMENTS

ALLOWED

43T: TRANSHIPMENT

PROHIBITED

44A: LOADING ON BOARD/DISPATCH/TAKING IN CHARGE AT/FROM

ANY ARGENTINE PORT

44B: FOR TRANSPORTATION TO____

OSAKA/JAPAN

44C: LATEST DATE OF SHIPMENT

30.04.20..

ISSUE OF A DOCUMENTARY CREDIT MT: 700 PRIOR: N

SENDER: 15.03.20../.....

BIC:........ XXX ISN:..........

*** SWIFT NORMAL *** BATCH FP06IL07 PROCESSED:

RECEIVER: 15.03.20../.....

BIC: UBSWCHZH 80A OSN:.....

:45A: DESCRIPTION OF GOODS AND/OR SERVICES

APPROX. 500 METRIC TONS NET ARGENTINE RAW COTTON TYPE VERA CROP

19../.. IN BALES AT US CENTS 135.56 PER KILO NET CFR OSAKA

:46B: DOCUMENTS REQUIRED

+ SIGNED COMMERCIAL INVOICE 3-FOLD

+ WEIGHT LIST IN DUPLICATE EVIDENCING GROSS- AND

NET-WEIGHT BALE BY BALE

+ CERTIFICATE OF ORIGIN IN DUPLICATE ISSUED OR COUNTERSIGNED BY CHAMBER OF COMMERCE

+ WEIGHT AND QUALITY-CERTIFICATE ISSUED BY SOCIETE GENERALEDE SURVEILLANCE SA GENEVA OR THEIR AGENTS AT LOADING PORT

CERTIFYING TOTAL GROSS- AND TOTAL NET-WEIGHT AND THAT COTTON SHIPPED CORRESPONDS TO ARGENTINE RAW COTTON TYPE VERA CROP 19.. / ..

+ FULL SET OF CLEAN ON BOARD MARINE BILL OF LADING, ISSUED TO ORDER, BLANK ENDORSED, NOTIFY OUR BANK AND MARKED FREIGHT PAID

:27: SEQUENCE OF TOTAL ^-_ч

2/2

:47В: ADDITIONAL CONDITIONS

INSURANCE COVERED BY BUYER

:71B: CHARGES

FOR ACCOUNT OF BUYER

:49: CONFIRMATION INSTRUCTIONS

CONFIRM

:53A: REIMBURSEMENT BANK

LUDIN BANK OF SWITZERLAND, CH-8021 ZURICH

:72: SENDER TO RECEIVER INFORMATION

PAYMENT TO THE DEBIT OF OUR USD-CURRENT ACCOUNT

UNDER CABLE ADVICE TO US

:78: INSTRUCTIONS TO PAYING/ACCEPTING/NEGOTIATING ВАNK

DOCUMENTS TO BE FORWARDED TO US BY REGISTERED

AIRMAIL IN TWO CONSECUTIVE LOTS

EXHIBIT 90

REQUEST TO TRANSFER

A DOCUMENTARY CREDIT

Zurich, 18th March 20.

CARGOTRANS

Ludin Bank of Switzerland

Documentary Credit Dept.

P.O. Box

8021 Zurich

Re: Documentary Credit No. OS/3/0705/83 issued by Japan Commercial Bank. Osaka/ Japan, UBS ref. 999*999-9

___________________________________________________________________________________

Dear Sirs,

Please transfer the above-mentioned Credit as follows:

To: (2nd beneficiary): Cooperativa Cotonela

Buenos Aires/Argentina

Through: Banco Bianco SA

Buenos Aires/Argentina

On the same terms and conditions of above-mentioned Master D/C. except:

1) amount: Approx. US $ 760,800...

2) unit price: US Cents 126.80 per kilo net CFR Osaka

3) place of availability/

payment: Buenos Aires

4) expiry date: 15th May 20.. in Buenos Aires

5) remarks: - Documents to be presented within 15 days from Bill of Lading date

- your charges and/or expenses to be borne by us, correspondent bank expenses to be charged to the 2nd beneficiary

Upon payment by you under the transferred Credit, or prior to the date of this payment, we shall provide you with our commercial invoices drawn in accordance with the Master D/C, in order that these documents may be substituted for the 2nd beneficiary's invoices which shall be delivered to us together with your payment to us of the difference between the two invoices, less any charges due to you.

In view of the fact that we decided to retain our right to disallow the advising of an amendment to the Second Beneficiary, we hereby undertake and agree with you not to accept any amendment towards the issuing bank without your consent as transferring bank, and we have furthermore taken due note that where applicable such amendment(s) would also need the approval of the Second Beneficiary under the transfer credit.

The original Credit mentioned above, as well as your relevant advice are returned to you herewith and are to be kept at your counters in Zurich.

Yours faithfully

CARGOTRANS

Enclosures

EXHIBIT 91

DOCUMENTARY CREDIT

CRYSTAL Forest House, 49 Cool Street, Bradford, W.Yorks

NATIONAL Date 20th July 19_

IRREVOCABLE CREDIT No. FDC/2/5555

To be quoted on all drafts and correspondence.

Beneficiary(ies) Advised through

Quality Goods Limited

Chestnut Lane, Keighley,

West Yorks.

Accreditor To be completed only if applicable

Butterflies Incorporated, Our cable of

Sixth Avenue, Advised through refers

New York, U.S.A.

Dear Sir(s),

In accordance with instructions received from The State Banking Co.

we hereby issue in your favour a Documentary Credit for £9150

(say) Nine thousand, one hundred and fifty pounds sterling available by your drafts drawn on us

at sight for the 100% c.i.f. invoice value, accompanied by the following documents:

1.Invoice in triplicate, signed and marked License No.LHDL 22 19—

2. Certificate of origin issued by a Chamber of Commerce

3. Full set of clean on board Shipping Company's Bills of Lading made out to order and blank endorsed, marked "Freight Paid" and

"Notify Butterflies Inc. Sixth Avenue, New York"

4. Insurance Policy or Certificate in duplicate, covering Marine and War Risks up to buyerls warehouse, for invoice value of the goods.

Covering the following goods:

300 Leather Jackets

To be shipped from Liverpool to New York c.i.f.

not later than 10th August 19_

Partshipment not permitted Transhipment not permitted

This credit is available for presentation to us until 31st August 19—

Documents to be presented within 21 days of shipment but within credit validity

Drafts drawn hereunder must be marked "Drawn under Crystal National Bank", Forest House, 49 Cool Street, Bradfort branch, Credit number FDC/2/5555

We undertake that drafts and documents drawn under and in strict conformity with the terms of this credit will be honoured upon presentation.

Yours faithfully,

Co-signed (Signature No. ) Signed (Signature No. )

EXHIBIT