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Template:Notification of default paradox: Difference between revisions
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What has this to do with trees in uninhabited forests? Well, you cannot hide your loss of licence. A third-party agency exists exactly to confirm, for people like me, whether you have one or not. But we can imagine other such “oblique obligations” for which there is no third-party verifying agent, at least not one prepared to tell you what you want to know. | What has this to do with trees in uninhabited forests? Well, you cannot hide your loss of licence. A third-party agency exists exactly to confirm, for people like me, whether you have one or not. But we can imagine other such “oblique obligations” for which there is no third-party verifying agent, at least not one prepared to tell you what you want to know. | ||
Your own cashflow solvency, for example, or the amount of private indebtedness you have to third parties. These are, | Your own cashflow or balancesheet [[solvency]], for example, or the amount of private indebtedness you have to third parties. These are, known only to your counterparty and others to whom the information is inherently confidential. They will not share it with you. | ||
Now you can ask your customer to [[covenant]] or [[warrant]] that it is, and remains, [[solvent]] and that it debt load will not exceed a certain threshold. | |||
But this is a tree in a distant forest. You cannot hear it. Noone else is talking. You rely upon your counterparty | |||