Binder reinforcement rings are no match for a thin string shroud which can cut right through them on a hard deploy. This was a stock Estes parachute.  This occurred at 747 feet with my favorite "show" rocket.  Fortunately, the other five held, but several times I've seen all six rip off, leaving the plastic to flutter away in the wind.  When I make my own custom parachutes, I use vinyl (electrical) tape that seems to hold up much better, and it comes in colors to match the parachute.