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re: Sending money to someone....conditionally
Posted on 1/13/15 at 2:50 pm to castorinho
Posted on 1/13/15 at 2:50 pm to castorinho
quote:
So Bob sends the money to Mike through this service where Mike can see that the funds are available...but he can't withdraw.
What's to stop Bob from pulling the money back after the service is completed by Mike?
Posted on 1/13/15 at 2:53 pm to AngryBeavers
quote:
What's to stop Bob from pulling the money back after the service is completed by Mike?
That's why a letter of credit is used in the business world. The financial institution holds the funds based on a condition that must be completed.
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