IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 30 Jun 2017 | Removal date: open ended
Still in force

Trade finance

On 19 July 2017, the UK Export Finance agency (UKEF) published the list of beneficiaries of trade finance transactions for the year 2016/2017.

One of these beneficiaries was Petrofac Limited, which was offered a buyer credit of a total value of GBP 110,388,848 (USD 143,445,666). The buyer credit finances the export of equipment for pipe-laying vessels to the United Arab Emirates from HC Engineering Business Ltd.

Given that UKEF does not provide the exact date that the trade finance deal was signed, the most conservative inception date, i.e. the 30 June 2017, was set as the inception date.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

429 Other fabricated metal products
8307 Flexible tubing of base metal, with or without fittings.
830710 Of iron or steel
435 Lifting & handling equipment & parts
8428 Other lifting, handling, loading or unloading machinery (for example, lifts, escalators, conveyors, teleferics).
842810 Lifts and skip hoists
444 Machinery for mining, quarrying & construction; parts
8431 Parts suitable for use solely or principally with the machinery of headings 84.25 to 84.30.
843143 Parts for boring or sinking machinery of subheading 8430.41 or 8430.49

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