To whom,
A little late, but a friend in Chase Manhattan's middle markets
department explained their side of the $45 canadian check story:
"Some people have a hard time grasping the fact that different
countries have different central banks and the technology driving the
clearing of checks across borders is not all that it could be. Generally
the common commercial practice for transacting business across borders is
with either letters-of-credit or electronic funds transfers, aka wires,
checks being used exclusively for intra-country transactions. I always
tell my customers that if they receive a check from offshore, to tell the
remitter to stop payment on it and send a wire instead.
It sounds like your friend, associate, colleague, whatever, is
frustrated because he does not understand. I would tell him to call his
local congressional representative and advocate having the armed forces
storm across the US-Canadian border and conquer what could be ours for the
taking. Then he won't have to worry about globalization."
'Nuff said, I guess.
peace,
boddhisatva
