Distinction secures $7million contract with UKEF support
London SME Distinction will supply furniture to the Palm Jumeirah, the first Viceroy hotel to open in Dubai.
| About Distinction | |
|---|---|
| Region | London |
| Sector | Furniture |
| Export destination | Dubai |
| UKEF support | Bond support scheme |
When Distinction won a US$7million to supply furniture to a luxury hotel in Dubai, they needed an advance payment guarantee. UKEF issued a US$1.2million guarantee to Distinction’s bank, enabling Distinction to fulfil the contract, create more UK jobs and expand its business.
Mark Elliot, CEO of Distinction, said:
To secure this deal we needed to get everything finalised on a short timescale and UKEF pulled out all the stops to make it happen; this and the direct financial support we received from UKEF was invaluable. I doubt we would have been able to take on the contract without it.
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