FINANCIAL & TECHNICAL SUPPORT SOLUTIONS FOR OIL AND GAS CONTRACTS:

This product is for small contract  and sub contracts in the oil and gas sector.

The product is geared to support purchase orders of goods/services contracts through financial, logistics and technical partnership to the contractors. Supply based financing of up to a maximum of $500,000.00.

FEATURES

  • For funding please contact us.
  • Self-liquidating Transaction i.e. the contract pays off the facility.
  • Contract/Transaction cycle of 30 – 120days.
  • Cost reduction as all financing shall be made directly to beneficiaries of the good and services by Sky Enterprises.
  • Seamless collateral arrangement via domiciliation to an account nominated by Sky Enterprises for the receipt of the proceeds of the project/contract.
  • Registration & Annual fee applies.

OTHER FEATURES

  • Other forms of security  may be deemed necessary based on the risk assessment of the transaction. Such assets include; fixed and floating debenture of assets, shares, etc.

PRODUCT PROCESS

  • Customer identification and profiling
  • RAC* and KYC** by Sky Enterprises.
  • Registration for Technical Partnership.
  • Conditional offer issued within 72hrs. 
  • Documentation processed for final approval within 72hrs.
  • Contract Execution.
  • Contract completion and payment is made to Sky Enterprises nominated/controlled account.

REQUIRED DOCUMENTATION FROM CLIENT UPON REGISTRATION.

  • Signed contract documents including technical documents
  • 3 years financial statement (audited or management) and 1 year financial statement
  • Customer application letter for financing
  • Full details of good/services being financed
  • Domiciliation letter or letter of lien on proceeds account. (Format shall be provided by Sky Enterprises)
  • Personal Guarantee for full principal and interest+ Notarized Statement of Net worth of 2 directors one of which must be the beneficial owner of the business (Format shall be provided by Sky Enterprises)

BENEFITS

  • Access to quick finance.
  • Enhanced reputation as quality of goods and services are assured as procurement will be from reputable sources who will provide product warranty.
  • Added benefit of enjoying specialized services e.g. funds disbursement to designated recipient.
  • Zero associated costs on funds being paid directly to goods/service supplier
  • Accessibility to other Sky Enterprises products and services such as equipment financing and other longer term projects.

QUALIFYING CLIENTS

  • Subcontractors to IOCs***.
  • Renowned marginal field operators, mid-stream operators and downstream players.

*RAC –    Risk assessment criteria

**KYC –   Know your client

***IOC – International Oil Companies