Question 24 (1 point) a You want to have a Chinese company manufacture goods for you but you do not know the manufacturer and do not want to pay until the goods arrive and they meet your specifications. The Chinese manufacturer is demanding payment up-front, because the Chinese manufacturer does not know you. How does a letter of credit help this issue? The Letter of Credit provides you the ability to set terms that need to be met in the 1) Letter of Credit and provides the seller assurances that it will get paid because the money is placed in the bank subject to meeting the terms of the letter. The Letter of Credit provides a letter from your bank that includes your financial data testifying to your ability to make the payment in full when the goods arrive. The Letter of Credit provides a letter to the manufacturer signed by you that guarantees you will pay as soon as the goods arrive on US soil. The Letter of Credit provides a guarantee from the US Department of State that the Chinese company will ship the goods