Access to funding
Our suppliers can rely on the Progredir Program as a facility to gain access to funding. The program aims to speed up access to credit and reduce costs, reflecting our commitment to encourage the development of the oil and natural gas industry chain.
There are two types of funding: One in which the services and goods yet to be executed under the contracts are given as collateral for the funding and another in which the suppliers can anticipate the invoices for services and goods already provided or delivered.
The operations are carried out through the Progredir Portal in a quick, standardized, transparent, and secure manner.
Applications for contract funding and invoice pre-payments are available to all participants to drive competitiveness and thereby reduce the suppliers’ funding costs.
Credit and performance risk analyses are carried out by the participant banking institutions, which are free to operate pursuant to their policies. Risks are mitigated by means of bank lending and credit assignment mechanisms. Payments are made to the indicated accounts if the supplier meets its contractual obligations.
To get to know more about the Program, including its regulations, go to the Progredir Portal.