Barclays provides Techflow Marine Ltd with a performance guarantee bond

Barclays has provided Northumberland-based Techflow Marine Ltd with a performance guarantee bond and warranty bond using the UK Export Finance (UKEF) Bond Support Scheme

The bonds issued were 10% each of the $5.8m (£3.59m) contract the Cramlington-based firm secured with Chinese National Offshore Oil Corporation – one of China’s largest national oil companies.

Techflow Marine provides a range of specialist products to the offshore oil and gas and marine industries and this represents the largest contract the firm has secured to date in China, involving the design and installation of a stern offloading reeling system.

The UKEF scheme is focused on UK SMEs, to help them in winning game changing contracts overseas involving contract bonds.


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