Fuel

Credeq is a market leader in underwriting fuel guarantees on behalf of licensed insurers. .

Our underwriting expertise supports both fuel suppliers and wholesalers, underwriting flexible guarantee solutions in partnership with licensed insurers widely accepted across the South African fuel industry. 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

The beneficiary of the fuel guarantee: refineries, wholesalers and importers.

Fuel suppliers: The risk

Not getting paid

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

Peace of mind

The guarantee provides assurance that, in the event of default, the licensed insurer may consider a claim subject to terms.

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

Guarantees are underwritten on behalf of licensed insurers for businesses operating in fuel distribution, mining, agriculture, and logistics.

Fuel wholesalers
Fuel distributors, fuel marketers, non-refining fuel wholesalers.

Commercial fuel users
Mines, farmers, transporters.

Fuel wholesalers: The risk

Low cash flow could mean a missed growth opportunity.

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

Peace of mind

A partner who truly understands my business and structure guarantees that support operational agility – 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.

  • Fuel suppliers
  • Fuel wholesalers
  • Brokers

The benefits of having a fuel guarantee in place

Fuel guarantees underwritten by Credeq on behalf of licensed insurers are accepted by all major fuel suppliers in South Africa.
Ability to provide more fuel to the wholesalers (your clients) with confidence that you’re covered in the event of defaulted payments – i.e. enabling business confidence through risk-backed underwriting.
Removes potential time consuming and costly legal processes should a client default on payment.
The credit team can focus on protecting the company’s profit and can focus on the relevant credit procedures adherence to policies over attempting to collect overdue debts.

The benefits of having a fuel guarantee in place

Fuel guarantees underwritten by Credeq on behalf of licensed insurers are accepted by all major fuel suppliers in South Africa.
More appropriate security* (as opposed to collateral) is required to secure the guarantee, freeing up cash flow.
When used optimally, this can be a cheaper and more effective alternative to a bank overdraft, allowing you to grow your business at a lower cost.
Partnering with experts in the guarantee business who take the time to understand your business and stand by it, sharing in the risk and assisting in improving business efficiencies and allowing the business to achieve its real potential.

The benefits of having a fuel guarantee in place

Fuel guarantees underwritten by Credeq on behalf of licensed insurers are accepted by all major fuel suppliers in South Africa.
Beneficial for your clients because our guarantees have less onerous securities (than the banks).
Our expertise in fuel guarantees enhances your promise of smart, relevant solutions for your clients.

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 offer a highly specialised solution 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

Apply now

Specialists

Sarah Wright

Senior
Underwriter
+27 (0) 11 551-0690
Contact us Apply here

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