PARTIES in the commercial world have been exposed to insolvency, which has increased and unsurprisingly spread to the international supply chain.
As a consequence, they likely have been taking steps to try and reduce risks through increased due diligence on legal and financial risks of customers before taking work and taking steps to secure better protections during that risk including requiring payment in advance from some customers, developing improved terms and conditions of trade, requiring letters of credit or registering other securities under the personal properties securities regime as well as credit insurance.
Many of these steps were aimed at giving the service provider better security over goods being carried by them so…