On Jan 22, 7:37*am, Roland Perry wrote:
In message , at 23:44:19 on
Wed, 21 Jan 2009, D1039 remarked:
Escrow accounts against which the supplier could borrow? Bombardier would
pay cash into an account that both sides need to agree that it is released,
Bombardier to agree to release on delivery, with mediation built in in case
of disputes, and the banks could lend as secured borrowings.
Isn't that in effect what a "letter of credit" is, used for a great deal
of international trade.
Except no-one would take the risk.
The risk of what?
Probably the risk of the bank going bust and their escrow money
disappearing