Please answer your clients question about this LC? (total 40 marks)

1) Who is the advising bank?

2) Who is the issuing bank?

3) Can importer cancel this LC?

4) Can your client ship 25 Sofas at the time (two shipments)?

5) Can this order be shipped from Vancouver, BC?

6) Your client needs 2 months to manufacture the furniture. Does this LC require amendment? Why?

7) What party will confirm this LC? Is it mandatory?

8) Can exporter present the documents in December 2021?

Export Documentary Credit in SWIFT Format

TO: BANK OF MONTREAL - TORONTO

FROM: STANDARD CHARTERED BANK - HONK KONG

IRREVOCABLE DOCUMENTARY

CREDIT NUMBER: 98785

DATE OF ISSUE: 6-OCT 2021

DATE AND PLACE OF EXPIRY: 5-DEC 2021

APPLICANT: ABC TRADING HONK KONG

BENEFICIARY: DEF COMPANY 55 AVENUE STREET , SUITE 505 NORTH YORK, ONTARIO M98 IAJ CANADA

CURRENCY CODE, AMOUNT: USD 150,000.00

DRAFTS AT: 60 DAYS FROM BILL OF LADING DATE

DRAWEE: BANK OF MONTREAL, 180 WEL ST. TORONTO, ONTARIO M5J IJ1, CANADA

PARTIAL SHIPMENT: NOT ALLOWED

TRANSHIPMENT: NOT ALLOWED

LOADING ON BOARD / DISPATCH TAKING IN CHARGE AT/ FROM ANY CANADIAN PORT FOR TRANSPORTATION TO HONK KONG

LATEST DATE OF SHIPMENT: 1-DEC 2021

DESCRIPTION OF GOODS AND/OR SERVICES: 50 PEICES OF SOFA FURNITURE

UNIT PRICE: $500 US

CLEAN ON-BOARD OCEAN BILL OF LADING MADE OUT TO THE ORDER OF ISSUING BANK

CONFIRMATION REQUIREMENT: ADD YOUR CONFIRMATION