and onely libertie, vse, and priuilege of trading and traffiking, and vsing feate of marchandise by and through the Leuant seas otherwise called the Mediterran seas into and from the sayd dominions of the Grand Signor, and dominions of the state of Venice; and by and through the sayd Grand Signors dominions to and from such other places in the East Indies discouered as aforesayd.  And that they the sayd Gouernour and companie of marchants of the Leuant and euery particular and seuerall person of that companie their and euery one of their servants, factors, and deputies shall haue full and free authoritie, libertie, facultie, licence, and power to trade and trafficke by and through the sayde Leuant seas into and from all and euery the sayd dominions of the sayde Grand Signor, and the dominions of the state of Venice, and the sayde Indies, and into and from all places where by occasion of the sayd trade they shall happen to arriue or come, whither they be Christians, Turkes, Gentiles, or others:  And by and through the sayd Leuant seas into and from all other seas, riuers, portes, regions, territories, dominions, coastes and places with their ships, barkes, pinases and other vessels, and with such mariners and men as they will leade or haue with them, or sende for the sayde trade as they shall thinke good at their owne costes and expenses.

And for that the shippes sayling into the sayde Countreyes must take their due and proper times to proceede in these voyages, which otherwise as we well perceiue cannot be performed in the rest of the yeere following:  Therefore we of our speciall grace, certaine knowledge, and meere motion, for vs, our heyres and successors doe graunt to and with the sayd Gouernour and companie of Marchantes of the Leuant, that foure good shippes well furnished with ordinance and other munition for their defence, and two hundred mariners English men to guide and sayle in the same four shippes at all times during the sayde twelue yeeres shall quietly bee permitted and suffered to depart and goe in the sayde voyages, according to the purport of these presents, without any stay or contradiction by vs, our heyres and successors, or by the Lorde high Admirall or any other officer or subject of vs, our heires or successours in any wise:  Any restraint, lawe, statute, vsage or matter whatsoeuer to the contrarie notwithstanding.

Prouided neuerthelesse, that if wee shall at any time within the sayde twelue yeeres haue iust cause to arme our Nauie in warrelike manner in defence of our Realme, or for offence of our enemies:  and that it shall be founde needefull and conuenient for vs to ioyne to our Nauie the shippes of our subjects to be also armed for warres to such number as cannot bee supplied if the sayd foure shippes should be permitted to depart as aboue is mentioned; then vpon knowledge giuen by vs or our Admirall to the sayde Gouernour or companie about the fifteenth day of the moneth of March, or three moneths before the saide companie shall beginne to make readie the same foure shippes that we may not spare the sayd foure ships and the marriners requisite for them to be out of our Realme during the time that our Nauie shal be vpon the seas, that then the sayde companie shall forbeare to send such foure shippes for their trade of marchandise vntill that we shall retake our sayd Nauie from the sayd service.