The owner has a successful track record of winning and completing projects throughout the world and significantly in Africa. Following the failure of his existing bank to fund a significant contract win the business was faced with being unable to perform under a contract they had won.
- Trade Finance Partners were introduced to an engineering procurement and consultancy business which has been established for more than 30 years.
- Trade Finance Partners were able to quickly complete an export trade finance facility for its client who allowed the contract to be completed on time and to budget.
- Trade Finance Partners added further value through arranging the confirmation of inbound letters of credit from an African State owner utility. Furthermore through Trade Finance Partner’s knowledge of Letters of Credit the client was able to obtain amendments to the LC allowing full operability and hence completion of the transaction.
- The project specific facility facilitated the procurement of goods under a £1.4m order covered by a confirmed letter of credit. Trade Finance Partners assisted in the structuring of the transaction and fully supported the client throughout the transaction.
The client is tendering for additional business safe in the knowledge that Trade Finance Partners are able to fund his future contract wins.