On 1 March, Ali Inc. sold 200 bicycles model ES123 to Baba & Co. Ali Inc. agreed to ship the bicycles from Hong Kong to Port Klang on 10 March. Discuss the parties' responsibilities and the ownership rights if: a) they choose an FOB contract. (10 marks) b) they choose a CIF contract. (10 marks) C) Assuming the consignment reaches later that the scheduled delivery, who bears the risk of loss if i) they choose FOB contract ii) the choose CIF contract