Infrastructure refurbishment consultancy
Covering highly complex purchases
Our Client was a provider of Engineering Consultancy and Procurement solutions for Major Infrastructure refurbishment, mainly in Africa.
His difficulty was that he had used all his personally backed credit with his bank and he needed more to cover his highly complex purchases.
MTF were able to offer him a solution by providing a Trade Finance facility covered by in-coming Confirmed Letter of Credit from the State Electricity Authority who were his client. The L/C’s were assigned to MTF and they bought the goods from his suppliers for him.
At the insistence of his buyer, a Performance Guarantee was required under the Terms of the Contract, and MTF were happy to provide this under as part of their agreement.
The total order values were £1.4 million and the contracts were completed on time. The client is now looking at new opportunities to help State entities maintain their older Equipment.