Your firm regularly sells to customers in Germany, Poland, Japan, Canada, and Venezuela. How would you evaluate the creditworthiness of firms in each of these countries? How would the credit risk differ in each of these countries? What sources of information would you use? Under what circumstances would you consider selling to firms in these countries without a letter of credit? In which of these countries would you want the buyer’s letter of credit to be confirmed by an American bank? Why? What additional protection does the confirmed credit provide?