The ONE Branded Marketer Bank Guarantee is designed for the Astron Energy (formerly Chevron South Africa) Branded Marketer business as a unique and accepted alternative to the traditional bank guarantees security required by Astron Energy. Fitch ratings has assigned Mutual & Federal Risk Financing Limited’s MFRF a National Insurer Financial Strength (IFS) rating of “AAA (zaf)” giving absolute assurance in performance and reliability.
The Branded Marketer doesn’t have to finance, or tie up valuable security or working capital in providing the required bank guarantees to Astron Energy
Existing Branded Marketer can substitute their current bank guarantees (or cash or assets tied up at the Bank) and inject some working capital and liquidity into their business or reduce liabilities
Existing Branded Marketers can ‘top up’ their existing guarantees to meet current Astron Energy requirements or increase credit facilities.
The premium paid is an operating expense of the business and thus written off against taxable income
Opportunity cost of having released your cash or securities
The Branded Marketer Bank Guarantee solution is limited to the Bank’s that have approved the Mutual & Federal Risk Financing Limited guarantee as security.