You pay thousands upfront. The business can use the money. And if it fails before delivering, you may get little or nothing back.

Following the closure of bridal and wedding photography studio Korea Artiz, which left customers reporting more than $270,000 in prepayment losses, Ivan Tay, Managing Director of Robertson Chambers LLC, joins Lynlee Foo on Viewpoint to discuss why consumers can end up carrying the risk, whether prepayments should be better protected, and what stronger safeguards could mean for businesses and consumers.