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BSP Credit Facility Program
Propelling local business development with fast-tracked and affordable financing

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
  • 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

    Call Corporate Banking Centres

    • 226 8310
    • 333 0650 ext 116/8

    or visit your nearest Baiduri Bank branch.

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