Legal Recourse for defaults


The recent Ovex loan request had me thinking about legal recourse when the borrower is not in the same legal jurisdiction as TT.

If anyone’s been involved in legal work outside of their own ‘backyard’ it gets very expensive, very quickly and any contract may not even stand up.

Obviously this goes against ethos of global decentralisation of finance, but we should be cognisant of the additional risk which should be priced in to any agreement.

What consideration do the TrueFi team give to borrowers who are applying from jurisdictions outside of their own and should this be a mandatory question for all borrowers?