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 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. UK Export Finance (UKEF) 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 UKEF’s 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.