You are the owner of Sunrise Nutrition in Toronto and have an opportunity to export your products to South Korea for the first time.Healthy Life is a company in South Korea that is interested in buying Sunrise products for the first time. You are notified by Bank of Montreal (Your advising bank) that Healthy Life has opened a letter of credit to buy 100,000 energy bars form your company.

1.Explain all the steps in the process of managing this LC from the time you are notified by your advising bank to the time you receive the money from your bank.

2.Please include all the critical terms and dates that needs to be reviewed.

3.What would you do if the required shipping dates on the LC is not possible due to the long manufacturing time in making and preparing the shipment?

4.How will you manage shipping dates, time of sailing, presenting documents and so on?You are the owner of Sunrise Nutrition in Toronto and have an opportunity to export your products to South Korea for the first time.Healthy Life is a company in South Korea that is interested in buying Sunrise products for the first time. You are notified by Bank of Montreal (Your advising bank) that Healthy Life has opened a letter of credit to buy 100,000 energy bars form your company.

1.Explain all the steps in the process of managing this LC from the time you are notified by your advising bank to the time you receive the money from your bank.

2.Please include all the critical terms and dates that needs to be reviewed.

3.What would you do if the required shipping dates on the LC is not possible due to the long manufacturing time in making and preparing the shipment?

4.How will you manage shipping dates, time of sailing, presenting documents and so on?