A Chinese exporter received an irrevocable L/C from a foreign country, this L/C was advised and confirmed by a foreign bank located in China. The Chinese company effected shipment and was to present the documents for negotiation, suddenlly it was informed by the foreign bank in China that the opening bank had declared bankruptcy and thus that foreign bank in China claimed it had no obligation to negotiate the L/C or to make payment for the L/C. However, it could help the exporter to collect the payment back directly form the buyer under the instruction and authorization of the exporter. What should the Chinese exporter do according to your opinion? Explain the reasons briefly.