Early Project Services Guarantee
Provides a guarantee to a bank making a loan to an international buyer to finance the purchase of design, engineering or technical services from a UK supplier for early project work.
How it works
An international buyer may be considering starting a major project and want to carry out early project work, including feasibility studies, conceptual designs and surveys.
If the international buyer hires a UK design services firm to complete this work, it can apply for an Early Project Services Guarantee to finance the early project work. We can provide a guarantee to the bank on the loan that allows the international buyer to buy the services from the UK-based business. The international buyer can repay the loan over a period of up to two years, and the UK business is paid as soon as the services are performed (subject to the terms of the loan agreement).
After the early project work is complete, if the buyer decides to proceed with the project, it may be eligible to apply for a Buyer Credit Facility to pay off the Early Project Services Guarantee and finance the project. This is subject to the buyer meeting our due diligence and the project being acceptable to UKEF.
Eligibility
- The supplier of the early project services must be carrying on business in the UK
- The financing must relate to services for the project and cannot involve physical project work
- The loan cannot be longer than 2 years
How to apply
Complete our contact form to discuss an application.
