The truth is this, a COJ for all its legalese is primarily a scare tactic against merchants who get any ideas to commit fraud or bounce on the funder without making a payment. It reality a COJ is very expensive and really hard to enforce. Now obviously we don't want merchants to know that because Ive seen them used and it gets ugly but more often than not a funder will have to weigh up the time that executing a COJ and trying to take it to its full extent versus, getting back on the bull and being more diligent with their underwriting next time. Crack eggs make omelets!