How equity enabled recovery of funds held from a collapsed bank — the Quistclose Trust
February 26, 2025
International trade presents the perfect challenge—exporters will not ship without guaranteed payment, and importers will not pay without guarantee goods are shipped. Of the solutions innovated in response, the letter of credit has become a faithful mainstay. The importer’s bank makes an irrevocable promise to pay the exporter’s bank if certain conditions are met. This...
