【正文】 lated in the Contract shall be effected in DEUTSCH MARK (DEM) through an irrevocable letter of credit partial shipment allowed under the . Loan No. _____ for the price for the Technical Knowhow, obtained from the World Bank opened in favor of the Licensor. The Licensee shall within thirty (30) working days after effectiveness of the Contract, open an irrevocable letter of credit by the Bank of China, Beijing in favor of the Licensor, in a bank in his country nominated by the Licensor and accepted by the Licensor, for and amount equivalent to the total Contract price, the letter of credit shall permit payments as stipulated in Article . Payment for the Price for the Technical Knowhow 10% (ten percent) of the total price for the technical knowhow under Article 3, namely _____ DEM (SAY: _____DEUTSCH MARK ONLY) shall be paid after the Licensor has presented the following documents provided they are in conformity with the stipulations of the Contract. A. One Photostat copy of valid export license issued by the relevant authorities of the Licensor’s of Licensor’s subcontractor’s country, or one copy of the letter issued by the relevant authority of the Licensor’s country starting that the valid export license is not required. B. One original and one copy of the irrevocable letter of guarantee issued by the Licensor’s Bank for a sum of 10% of the total price of for the technical know how in favor of the Licensee, The specimen of the little of guarantee is detailed in Annex_____ to the contract. C. Four copies of the proformal invoice covering the total price for the technical knowhow D. Two copies of the sight draft to be drawn on the Licensee to the Bank of China, Beijing. E. Four copies of mercial invoice. The above mentioned documents shall be presented not earlier than 30 days after effectiveness of the Contract. 25% (twenty five percent) of the total price for the technical knowhow under Article 3, namely _____ DEM (SAY: _____DEUTSCH MARK ONLY) shall be paid after the Licensor has delivered the first batch of the technical Documentation/ Software as stipulated in Annex _____ to the Contract and against presentation of the following documents provided they are in conformity with the stipulations of the Contract: A. Five copies of the mercial invoice. B. Two copies of the sight draft to be drawn on the Licensee to the Bank of China, Beijing. C. Five copies of the airway bill for the first batch of the technical Documentation and/or software. D. Five copies of the packing list for the first batch of the Technical Documentation and/or Software. E. Two copies of the letter issued by the Licensee confirming that the Licensor has delivered to the Licensee the first batch of Technical Documentation and/or Software as stipulated in Annex _____and Annex _____ 50% (fifty percent) of the total price for the technical knowhow under Article 3, namely _____ DEM (SAY: _____ DEUTSCH MARK ONLY) shall be paid after the Licensor has delivered the last batch of the Technical Documentation/Software as stipulated in Annex _____ to the Contract and against presentation of the following documents provided they are in conformity with the stipulations of the contract: A. Four copies of the mercial invoice. B. Two copies of the sight draft to be drawn on the Licensee to the Bank of China, Beijing. C. Five copies of the packing list for delivering the last batch of the technical Documentation and/or Software. D. Five copies of the packing list for delivering the last batch of the Technical Documentation and/or Software. E. Two copies of the letter issued by the Licensee confirming that the Licensor has delivered to the Licensee all Technical Documentations as stipulated in Annex _____ 15% (fifty percent) of the total price for the technical knowhow under Article 3, namely _____ DEM (SAY: _____ DEUTSCH MARK ONLY) shall be paid after acceptance of the Contract Products by the Licensee and against presentation of the following documents provided they are in conformity with the stipulations of the Contract: A. Four copies of the mercial invoice. B. Two copies of the sight draft to be drawn on the Licensee to the Bank of China, Beijing. C. Two copies of the Acceptance Certificate for the Contract Products signed by the both Parties. The License shall have the right to deduct from the performance Bond or relevant payment under negotiation the penalties in form of liquidate damages, which Licensor shall pay in accordance with the stipulations of the Contract. The banking charges incurred in the . shall be borne by the Licensee and those incurred outside the . shall be borne by the Licensor. The Licensor shall bear all interest charge in case they occur in the negotiation of the payment, unless these interest charges have been occurred by reasons of default by the Licensee. ARTICLE 5 DELIVERY OF THE TECHNICAL DOCUMENTATION AND SOFTWARE The Licensor shall deliver to the Licensee the Technical Documentation and Software at Beijing Airport in accordance with the contents, copies and time stipulated in Annex _____ to the Contract. The risk of the Technical Documentation shall be transferred from the Licensor to the Licensee after its arrival at Beijing Airport, China. The data stamped by Beijing Airport, China shall be the actual date of delivery the Technical Documentation and Software. The Licensor shall, within two (2) working days, after dispatching each batch of the Technical Documentation and/or Software, inform the Licensee and Contract Factory by telex or fax of the Contract number, number of parcels, weight, flight and expected arrival date. At the same time, the Licensor shall airmail to the Licensee and the Contract Factory each two copies of the airway bill a