A letter of credit says you have the funds to pay the bill It does not say you will pay the bill.
I can see both sides. You give me a deposit and I spend it on other things and close up shop. But then again I take a order; build what you want; and with nothing to lose you change your mind and cancel the order. Yes I may be able to sell your building to someone else but how many months do I have to sit on it with my money tied up trying to find another buyer. Heck I may even sell it at a loss just to get rid of it in a timely matter.
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Today's Featured Article - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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