The question then is what to do when you can’t locate the other party, or the other party took the money and fled the country, or the other party declares bankr

The question then is what to do when you can’t locate the other party, or the other party took the money and fled the country, or the other party declares bankruptcy. Who sucks the losses up in the end? (In the current system, due to T+2, it does not happen.) Please do not assume the other party acts in good faith—actually assume malice.