The future is shining brightly for LED Roadway Lighting (LRL).
With unique LED-based (light-emitting diode) lighting fixtures and control systems that last longer, save energy and reduce maintenance costs, business is growing rapidly, and LRL has installations in more than 50 countries.
But installations of this magnitude can tie up millions in capital, and the industry often requires performance and bid bonds, which can eat into the company’s line of credit.
How EDC helped
By using EDC’s bonding insurance, LRL doesn’t have to increase its working capital, and instead can use the money to grow. EDC’s accounts receivable insurance also gives it security when it comes to getting paid. The company is now also exploring the possibility of EDC financing for its foreign municipal clients.
In five years, LRL is expected to grow substantially. There are approximately 300 million street lights installed globally and market penetration for LED technology is still growing rapidly.
With an emphasis on product reliability and performance, LED Roadway Lighting is well positioned to be a major player in its industry.
EDC services used
Posting bonds for international contracts ties up cash you can be using to grow your business. EDC’s Account Performance Security Guarantee (Account PSG) frees up collateral tied to international contracts by providing your bank a 100% unconditional guarantee for the bonds it posts on your behalf.
EDC services used
EDC Portfolio Credit Insurance is an online solution that’s ideal if you’re looking to insure your business against non-payment.
It covers up to 90% of losses should your customer not pay, due to circumstances such as bankruptcy, payment default, market hostilities or currency conversion or transfer.