The buyer has the right to cancel the contract unilaterally if the seller fails to ship the goods within the L/C validity.
如果卖方不能在信用证有效期内交货的话,买方有权单方面取消合同。
I think you probably know China has adopted a flexible policy in her foreign trade.
我想你也许已经了解到中国在对外贸易中采取了灵活的政策。