RE:RE:Millions $$$$$$ Clearly ron either has NO experience with an LC or simply chooses to believe whatever is convenient to his cheerleading.
A letter of credit will require that the issuing bank be very comfortable with their client and being that PYR is about 55 mm in the glue with no working capital or cash it seems like a big stretch to say that this is all easy. Not only that, but the conditions imposed by the bank and the buyer could be difficult and may be a problem in getting this done. ALso these are costly, as fees exist for various stages and likely will be higher given the financial status fo PYR overall. OF concern over an above all that is that the vendor will not have direct control over the product since the vendor is D I international which depends on PYR to produce the equipment....sound any less complicated ? Cause it is NOT !!!
These negotiations may end up with the statement that the saudis were unreasonable and therefore the deal fell apart....Lets hope not but it is NOT EASY Or cheap