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 Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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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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