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					                          ACCEPTABLE TEXT FOR IRREVOCABLE LETTERS OF CREDIT



LETTER OF CREDIT NO.: --------------------

                                                                            APPLICANT:
*********DIRECT*********:                                                  ---------------------------------------------

BENEFICIARY:

INTERNATIONAL AIR TRANSPORT
ASSOCIATION (IATA/BSP)
800 PLACE VICTORIA                                                        AMOUNT: CAD $-----------------
P.O. BOX 113
MONTREAL, QUEBEC, H4Z 1M1


DATE OF EXPIRY: ------------------200--.


  ON BEHALF OF --------------------(NAME OF APPLICANT/AGENCY) WE,-----------------(NAME OF BANK)
HEREBY ISSUE IN FAVOUR OF INTERNATIONAL AIR TRANSPORT ASSOCIATION (IATA/BSP) 800
PLACE VICTORIA, P.O. BOX 113 MONTREAL, QUEBEC H4Z 1M1, OUR IRREVOCABLE STANDBY LETTER
OF CREDIT IN THE AMOUNT OF CANADIAN DOLLARS --------------------(CAD $---------).
   THIS STANDBY LETTER OF CREDIT IS AVAILABLE FOR PAYMENT AGAINST PRESENTATION TO
US OF YOUR SIGHT DRAFT DRAWN ON THE ---------------------(NAME AND ADRESS OF BANK),
MENTIONING OUR STANDBY LETTER OF CREDIT NUMBER AND DATE, ACCOMPANIED BY YOUR
SIGNED CERTIFICATE CONFIRMING THAT THE MONIES DRAWN PURSUANT TO THIS STANDBY
LETTER OF CREDIT ARE IN CONNECTION WITH THE MONIES OWED BY THE APPLICANT TO IATA
MEMBER AIRLINES FOR TRANSPORTATION AND RELATED SERVICES.
  WE UNDERTAKE TO PAY ON YOUR FIRST DEMAND UNDER THIS STANDBY LETTER OF CREDIT
WITHOUT INQUIRING WHETHER YOU HAVE A RIGHT AS BETWEEN YOURSELVES AND THE
APPLICANT TO MAKE SUCH DEMAND WITHOUT RECOGNIZING ANY CLAIM OF THE SAID
APPLICANT.
   PARTIAL DRAWINGS ARE PERMITTED.
  ANY DRAFT DRAWN MUST BE ACCOMPANIED BY THE ORIGINAL STANDBY LETTER OF CREDIT
FOR OUR ENDORSEMENT OF ANY PAYMENT THEREON.

   THE PRESENT LETTER OF CREDIT EXPIRES ----------------(THE “EXPIRY DATE”). IT IS A CONDITION
OF THE PRESENT LETTER OF CREDIT THAT IT SHALL BE DEEMED TO BE AUTOMATICALLY
EXTENDED WITHOUT AMENDMENT ON OUR PART FOR ADDITIONAL PERIODS OF ONE YEAR FROM
THE PRESENT OR ANY FUTURE EXPIRY DATE HEREOF, UNLESS AT LEAST NIENTY (90) DAYS PRIOR
TO ANY SUCH EXPIRY DATE, OR ANY FUTURE EXPIRY DATE, WE SHALL NOTIFY YOU BY SPECIAL
COURIER THAT WE ELECT NOT TO RENEW THIS LETTER OF CREDIT FOR ANY SUCH ADDITIONAL
PERIOD.
  THIS STANDBY LETTER OF CREDIT IS SUBJECT TO THE “UNIFORM CUSTOMS AND PRACTICE
FOR DOCUMENTARY CREDITS (2007 REVISION) INTERNATIONAL CHAMBER OF COMMERCE,
PUBLICATION NO.600 AND ENGAGES US IN ACCORDANCE WITH THE TERMS THEREOF.
                                          FOR:---------------------------(NAME OF BANK)


-------------------------------------------                       -------------------------------------------
COUNTER SIGNATURE                                                AUTHORIZED SIGNATURE

				
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