Fuel
Fuel Guarantees provide support for bulk users and suppliers of fuel including airlines, mines, transporters, manufacturers and wholesale buyers and distributors of fuel products (including lubricants and related products).
Our flexible approach offers a welcome alternative to upfront cash deposits or payments, easing buyers’ financial burden. These guarantees are issued to fuel companies such as BP, Glencore, Shell, Astron, TotalEnergies, Sasol, Engen, Puma Energy, etc.
Growth opportunities
Fuel since 1990
Fuel suppliers
Fuel suppliers: The risk
Once fuel is distributed there are very few ways to get it back, i.e., there’s a high possibility of 100% loss to the fuel supplier should there be a payment default.
Fuel suppliers: The solution
A guarantee for the purchase of fuel with the assurance that should a claim arise, it will be paid out without a time consuming and costly legal processes.
A fuel guarantee is used as security against a credit line and is issued to the fuel supplier on behalf of a fuel wholesaler or user. The guarantee is paid out should the fuel wholesaler or user not pay the supplier for their fuel purchases within the agreed terms.
Fuel wholesalers
Fuel wholesalers
Fuel distributors, fuel marketers, non-refining fuel wholesalers.
Commercial fuel users
Mines, farmers, transporters.
Fuel wholesalers: The risk
Fuel is a low margin, fast moving product). Traditional finance uses the wholesaler’s cash as security and when that cash flow is tied up it hinders your ability to follow opportunities that can grow your business.
Fuel wholesalers: The solution
A partner who truly understands my business and delivers solutions without restricting cash flow – allowing the business to maximise opportunities and potential.
Progressive:
Progress is what we do
At Credeq, progress isn’t just a goal, it’s in our DNA. We’re dedicated to supporting your business, invested in your success as if our future depends on it – and it does.
Service:
Hands-on philosophy
Our commitment to service excellence has been time-tested since 1990 and will always be at the heart of what we do – from guaranteed development to claims.
Custom solutions:
Niche business
Through our speciality focus, understanding of market and sector dynamics, and our partner-centric approach, we are able to develop unique solutions to meet your business specific needs.
Strength:
Solid foundations
With A-rated paper, accepted by all relevant principals, and strong reinsurance relationships, we are able to provide the appropriate capacities for the relevant risk. The South African insurance industry has a strong regulatory framework with regulations and supervision typically modelled on international standards.
Excellence:
Leaders in our field
Nurturing lasting relationships with our clients and partners is our priority. We believe it is the basis for our impressive financial credentials, and our reputation of independence and reliability in delivering fast, efficient service.
Expertise:
Industry insights
Our team of experienced industry specialists use their knowledge, underpinned by technical underwriting abilities, to understand your business and where you want to take it.
Credeq is the market leader in fuel guarantees
Focused on providing uncompromising service to both our clients and the beneficiaries of our guarantees.
We operate open and honestly, meeting with all parties involved regularly to keep you abreast of changing circumstances, market shifts and relevant updates. Our delivery is underpinned by solid underwriting and Credeq are backed by strong global reinsurers, enabling us to facilitate large guarantees anywhere in South Africa. Credeq fuel guarantees are accepted by all major fuel suppliers in South Africa.
Our philosophy is built on truly understanding our partners’ business – taking the time to listen, learn, and align with their unique needs. We truly understand the fuel business, allowing us to improve the efficiency of the supply chain (especially for the client), as well as acting as an early warning system for the supplier (beneficiary) around the financial wellbeing of the client.
- Fuel suppliers
- Fuel wholesalers
- Brokers
The benefits of having a fuel guarantee in place
The benefits of having a fuel guarantee in place
The benefits of having a fuel guarantee in place
Best for the broker
Choosing a niche guarantee underwriter like Credeq is a good move for a commercial broker.
Fuel guarantees, for example, are very specialised and require a highly specific skill set. There are many guarantors that will underwrite guarantees, but this is often accommodation business – part of a larger offering, and not always supported with the specialist knowledge, insight and capability needed to correctly deliver against such a unique matter.
Where the Credeq fuel guarantee really comes into its own for the broker is in terms of credibility. Being able to sell such a perfectly tailored product to a fuel wholesaler, underwritten by a group of people who live and breathe the fuel industry, brings huge kudos. This puts the broker in a position to deliver on the promise to his client of smart, tailored and relevant solutions.
Apply for a fuel guarantee
Specialists
Sarah Wright
Underwriter
