s 7-22) Use the diagram below to help you answer the following about a documentary sale and letter of credit transaction. Assume the sales contract calls for FOB seller's city. Seller in Hong Kong Sales contract FOB Hong Kong Buyer in L.A. Captain Seller's banko communications Buyer's banlk 7. When does risk of loss pass to buyer? 8. Is this shipment or destination contract? 9. What does the captain issue to the seller? What 3 functions does it serve? (15, 16, 17) 10. 12. 13. When the widgets get to L.A., what does the buyer need to present to make the captain release the widgets to him/her