Spreading net-15 terms across 4 networks capped a single default at 19% of monthly receivables instead of 100%

Spreading net-15 terms across 4 networks capped a single default at 19% of monthly receivables instead of 100%.
Cohort: one buyer, $54k/mo earned, 7-month log including one network insolvency.

— Pre-diversification: 1 network held all $54k receivable; a default = total loss exposure ▏▏▏▏▏▏▏▏
— Diversified: largest network held 19% ($10.3k); when one network defaulted on a $9.1k balance, loss was bounded ▏▏

The defaulting network owed 17% of that month. Recovery on the rest was unaffected.

Read: counterparty concentration is the real risk in net terms — splitting receivables turned a potential $54k wipeout into a survivable $9.1k hit (n=4 networks, 1 default event).