Cultural heritage consultancy secures projects in the Middle East
World-leading cultural heritage consultancy won 2 contracts working on projects in the UAE thanks to support from UK Export Finance (UKEF).
| About the transaction: Barker Langham | |
|---|---|
| Region | London |
| Sector | Creative industries |
| Export destination | United Arab Emirates (UAE) |
| UKEF support | Bond support scheme |
London-based consultancy Barker Langham specialises in the strategic planning and practical development of cultural heritage projects. When they won 2 contracts with clients in the UAE, both deals required the company provide performance bonds from its bank. However, Barker Langham was expected to provide a cash deposit to act as collateral against the risk of issuing the bonds.
We offered Barker Langham’s bank a guarantee for the performance bonds through our bond support scheme, substantially reducing the size of the deposit required. As a result, Barker Langham was able to secure both contracts, while holding on to the liquidity needed to fulfil them and expand its business further.
Anne Roumajon, Team and Project Manager at Barker Langham, said:
Without UKEF’s help, we would have just gone around in circles and it might have taken so long to get the bond that it would have jeopardised the deals. Actually being able to speak to someone at UKEF about our situation and get specific answers on what to do made a world of difference.
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