Collateral Management

This is aimed at assisting financial institutions to develop their commodity trade finance operations in the Nigerian market. This is done by securing pledged cargo in safe locations over which Coteck Commercial Inspection Limited assumes legal and physical control holding the stocks on behalf of the lender (in this case, the bank). The scope of work here is as follows:

• Receipt of the goods into Coteck-controlled warehouse;
• Tally and determination of quantity (in and out);
• Taking the goods under Coteck custody;
• Issuing warehouse receipts in favour of the lender;
• Performance of regular stock audits;
• Receipt and authentication of release instructions from the lender;
• Authorizing and supervision of delivery ex - warehouse and;
• Reporting.

Coteck covers the goods for the duration of the storage with its Cargo "all risks" insurance policy with the bank as co-insured and loss payee.