BANK PROJECT FINANCE
ENSCO LOGISTICS SERVICES LIMITED’s major projects are continuously financed by our esteemed bankers; the First Bank of Nigeria Plc. The Bank is always favorably disposed to finance our major projects right from mobilization up to the commissioning stage.
Credit Line: First Bank offers us credit line up to the tone of Two Billion Naira. The essence of setting up credit line is to create a pool of fund made ready for immediate use for projects sometimes on emergency basis.
Overdraft Credit: Overdraft credit is a loan made available far above our credit standing in our accounts to enable us to execute projects at short notice.
LPO Contract Finance: Our bank provides us with an LPO contract finance presentation of a valid contract (Purchase Order). After confirmation of such PO, a contract loan is created by our Account officer who will afterward monitor the execution process of the contract and eventual payments from our clients. In all these processes, payment from clients is always domiciled with our Banker/financier as collateral security for the loan.
COMPANY FUND PROJECT FINANCE
For minor and medium scale projects, our company uses its own fund (capital to finance such projects sometimes, INVOICE DISCOUNT methods also apply here.
AUDITORS:
ABEL PETERSIDE & CO (Chartered Accountants) are Auditors to ENSCO LOGISTICS SERVICES LTD and yearly audit the company and provide financial statement on request and also financial advisory services. Also the services of internal auditors are always employed as a check measure in the financial activities of the company.
4. INSURANCE:
ENSCO LOGISTICS SERVICES LIMITED in its operation maintain the insurance requirements necessary for a given project covering the following.
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Group Life Assurance
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Compressive General Liability
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Automobile Liability
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Watercraft Liability
OEM TECHNICAL PARTNERSHIP AGREEMENT
ENSCO LOGISTICS SERVICES LIMITED is committed to nurturing our partnership relationship with our OEM. We are continuously strengthening our strategic alliances to deliver comprehensive solutions to the needs of our clients in collaboration with our foreign partners. The following are some of foreign OEM:
(a) Toolquip and Allied PTY South Africa
(b) Hi-Force Hydraulics PTY South Africa
(c) Edibon International S.A Spain
(d) Kinematica AG Switzerland
(e) Kobold Messering GMBH Germany
(f) MRC Laboratory Equipment Ltd Isreal
(g) Green Laboratory Equipment Co. Ltd China
(h) Walter Tools AG Germany
(i) Ametek Chandler Engineering Inc. Tulsa Oklahoma USA
(j) Perimeter Systems Inc. USA
(k) Ryan Solution Europe
These Companies offers a full range of customer after sales life time support services namely maintenance, provision of spare parts, and training or personnel.