TO THE ORDER OF UCO BANK IRAN

Company Profile: UCO Bank Iran

Nature of Business: Commercial Bank (Financial Institution)

Business Category: Neither a factory nor a trading company. UCO Bank is a banking institution that provides financial services, trade finance, and banking operations to support international trade and economic activities.

Company Overview:

UCO Bank Iran acts as a financial intermediary facilitating cross-border transactions and credit services. It is not involved in the manufacturing of goods (factory) nor the buying and selling of commodities for profit (trading company). Its primary function is to provide banking solutions, including letters of credit, remittance services, and financial settlement support for businesses engaged in international trade.

The entity referred to as TO THE ORDER OF UCO BANK IRAN is not a manufacturing or trading company. It is a banking instruction used in international trade documentation, specifically in Letters of Credit (LCs).

UCO Bank is an Indian public sector bank that has historically maintained a specialized branch in Iran to facilitate trade settlements between India and Iran. When a bill of lading or other transport document is made out TO THE ORDER OF UCO BANK IRAN, it signifies that the title to the goods is held by the bank as collateral until the buyer fulfills the payment obligations under the Letter of Credit.

Therefore, the bank does not produce, sell, or trade any commercial products. It provides financial services, including:

1. Trade Finance

2. Letter of Credit Issuance and Confirmation

3. Remittance Services

4. Currency Exchange

5. Banking Settlement Services for Bilateral Trade