IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 27 Sep 2016 | Removal date: open ended
Still in force

Trade finance

The buyer credit worth 14.1 million GBP will be used to finance remotely operated subsea vehicles, which were "designed and built at the company’s UK arm in Kirkbymoorside, North Yorkshire".

In UKEF's press release, the vice-president of the subsea vehicles of Forum Energy Technologies was quoted saying "This was our second application for UKEF support, so we used our previous application as a model and, in some ways, the process was more straightforward than getting a bank loan for a car. Without UKEF support the project would probably not have gone ahead and the buyer might well have used one of our competitors with support from another country’s export credit agency".

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

449 Other special-purpose machinery & parts
8479 Machines and mechanical appliances having individual functions, not specified or included elsewhere in this Chapter.
847989 Other

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