BSP Credit Facility Program - Financing

Notice

With effect from 31 October 2023, the Business I-Banking service will be terminated and will be replaced by our new Baiduri b.Digital Business service. To help you with your transition, email us at [email protected].

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OVERVIEW

This programme is designed to offer financial support for the current and future local contractors of Brunei Shell Petroleum (BSP), enabling them to achieve their full potential.

Key Features & Benefits

Corporate Business Credit Card for easy expense management
Discounted processing fee and waiver of selected charges
Complimentary employee payroll processing service
Complimentary Business Online Banking service
Competitive financing rate
Fast-track credit approval

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Eligibility Criteria
Required Documents
Terms & Conditions
Contact

Eligibility Criteria
Eligibility Criteria
Minimum deposit of BND500 for opening of company account
Have a verifiable registered address of business, or place of business in Brunei
Existing contractor of BSP or have just been awarded a contract with BSP
Other Program criteria apply
Required Documents
Required Documents
Letter of Award / Contract Agreement
Copy of Certificate of Incorporation or Certificate of Registration (Section 16)
Copy of Form X, Particulars of Directors or Managers, or Business Registration (Section 17)
Copy of IC/Passport of all directors/shareholders/partners/sole proprietor
Directors Resolution (for limited company only)
Letter of Consent to BSP to disclose to the Bank certain Qualified BSP Contractors’ information in respect of the Contract and the performance of contractual obligations
Letter of Consent to the Bank to disclose to BSP details of financing for the awarded contract of the contractor
Assignment of contract payment to the Bank
Terms & Conditions
Terms & Conditions
Credit maturity may not exceed the term of the Contract.
The Qualified BSP Contractor must satisfy specific credit criteria as determined by the Bank.
Under this Credit Facility Programme, the revenues under the Contract will be domiciled at the Qualified BSP Contractor’s account with the Bank, and the Bank will have security over the principal and interest.
The Qualified BSP Contractor will not be able to change the bank and domicile the revenues under the respective Contract in a different bank, without consent of the Bank.
Key condition of the Credit Facility Programme is assignment of proceeds by Qualified BSP Contractor to the Bank. Assignment of proceeds will apply between Qualified BSP Contractor and the Bank in respect of the payment(s) due to the Qualified BSP Contractor from BSP under the Contract, in respect of which Credit Facility Programme applies. BSP will be notified of the assignment of proceeds by the Bank in each case, and the Bank will confirm to BSP the account(s) with the Bank, where the payments under the Contract in question have to be made by BSP.
Contact
CONTACT
To find out more, visit or call your nearest Corporate Banking Centre.
226 8310
333 0650 ext 116/8

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Important update
19 September 2023

We would like to inform you that with effect from 31 October 2023, Business i-Banking service will no longer be operational, and this will be replaced with our new Baiduri b.Digital Business service.

If your company has not transitioned to b.Digital Business, please ensure that every existing user provides the following by 8 October 2023 through the Business i-Banking Inbox:

User’s full name
User’s valid Identification Card (IC) or Passport
User’s mobile number
User's company assigned email address (General company email is not accepted e.g., [email protected])

Alternatively, you can complete the b.Digital Business Amendment Form and submit the form(s) directly to Baiduri Digital Hub, Ground Level, Baiduri Bank Headquarters.

Every user will receive a notification email at their registered email address, once they have been migrated and activated on the b.Digital Business service.

Companies who have not moved to b.Digital Business after 31 October 2023 can re-apply as a new subscriber to the b.Digital Business service. This will require additional documentations to be submitted as part of the application. Refer “Required Documents” here.

Important notice: Our Business i-Banking service will be deactivated soon. To ensure continued access and a smooth transition to the new Baiduri b.Digital Business, please provide your full name, IC, email address and mobile number via Business i-Banking Inbox. If we do not receive updated details from all authorised users, your company will not be migrated to the new platform and a fresh application will be required. For assistance, contact us at [email protected] or call 2268 637/8/9 during business hours. Thank you for your cooperation.

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To strengthen our online security measures, effective 8 January 2024, we will introduce the cooling period feature on our Baiduri b.Digital Personal web and mobile app to prevent unauthorised access.

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