Obermayer (Pennsylvania): Letters Of Credit: Tool or Trap for Trade Vendors Dealing With Customers at Risk for Bankruptcy

The impact of the internet on brick-and-mortar retail, compounded by the economic devastation of the COVID-19 crisis, has created an unpredictable environment for trade vendors and service providers amid an uptick in commercial bankruptcy filings that is all but certain to intensify as the pandemic continues. In response, many trade vendors are demanding or being offered letters of credit as a condition to or incentive for continued business relations with troubled customers. MORE.

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