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Most large business transactions (eg cargo shipments from one country to another) involve intermediary banks and letters of credit (https://en.m.wikipedia.org/w
by amenghra 9y ago
Most large business transactions (eg cargo shipments from one country to another) involve intermediary banks and letters of credit (https://en.m.wikipedia.org/wiki/Letter_of_credit https://en.m.wikipedia.org/wiki/Letter_of_credit). Both parties usually don’t need overlapping business hours to move goods or money around.
Boeing’s case might be unique, any idea why?
- koonsolo 9y agoI'm not it that business myself, so I don't know. But I do know of this one case where a 787 was bought. When the plane is ready, people from the airline (project manager, pilot, etc) go there. If all is fine, the payment is made, and the plane can be taken home with their own pilot. The airspace regulation back home also needs to approve the airplane is ok to fly. The person that I know told me the transaction looks like some James Bond movie where banks are called and laptops are used to verify. And it was timed so the bank in Europe was still open, and first transfer was to NY.