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# What is illiquidity risk ?

### ${color}[#3faae1](What is illiquidity risk?)
For each transaction, investors are informed that investing in bonds carries a [__risk of illiquidity__](https://raizers.com/avertissement-sur-les-risques). Indeed, even though these bonds are freely transferable, there is no market available on which to sell them easily. Investors will therefore need to find, through their own efforts, an investor willing to buy back their bonds.

In practice, this means that, unless they find an external buyer, investors will only be able to recover their capital on the redemption date specified in the bond contract.