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- Opportunity: Our client, a Tulsa engineering and manufacturing company, had an opportunity to design, finance, manufacture and install a sulfur purification plant in Iraq. This required that we negotiate a design-build contract with an Iraqi buyer, a subcontract with a Jordanian contractor and a financing arrangement guaranteed by Export-Import Bank of the United States on behalf of our client.
- Solution: We negotiated and prepared the prime contract and the installation subcontract, remaining sensitive to the needs and preferences of the differences in customs and culture of our client, the buyer, and the subcontractor. Doerner also assisted the client in all aspects of negotiating the financing transaction, which included securing a guarantee by the Ex-Im Bank and a letter of credit issued by the Trade Bank of Iraq.
- Result: The client’s loan was approved by Ex-Im Bank and funded by the lender, and the client has begun work on the project.
