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reasearch1:

I agree with you in that people should be cautious about using BoE's. If BB were to claim the BoE was bogus, the burden of proof would be on them to prove it. As long as the document is drawn up correctly, and the UCC Contract Trust Account has been properly set up, the only who can make it--or any other draft, for that matter--"bad" is the drawee, just like with a check or M.O.. Mr. Snow has been largely silent about all this, and I doubt BB could produce a Certificate of Protest evidencing dishonor. Of course, they may try to railroad one anyway.