FINANCIAL & TECHNICAL SUPPORT SOLUTIONS FOR OIL AND GAS CONTRACTS:
This product is for small contract and subcontracts 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.
- 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 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.
- 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)
- 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.
- 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