DUE DILIGENCE · MONITORING · RECOVERY
Bank & Ship Finance Services
Technical due diligence for banks, lessors and investors, signed by a named reviewer your credit committee can put in the file: Thomas Blenk, American Bureau of Shipping, latterly Corporate Vice President, Global Marine Sectors, and Deputy Commissioner of Maritime Affairs for the Republic of the Marshall Islands.
Engagements are led by our founder, and every report names the reviewer who wrote it. One reviewer, one signature, one opinion that does not change when the borrower objects.
What's Included
- Pre financing technical due diligence and condition survey of the collateral
- Advance document review through a secure portal, covering every document and image you upload rather than a sample. Upload typically takes one to two hours through the secure portal, and for a complete submission received early in the working day we aim to return the reviewed result the same working day.
- Portfolio condition monitoring on an agreed schedule for the vessels in the facility we are instructed to cover, with a written exception report between visits, optionally supported by the Nautilux shore side dashboard where the borrower or manager has adopted it
- Flag, registry and class assessment to support approved flag and approved class list decisions
- Technical review in distressed, arrest and workout situations, and pre delivery inspection of financed newbuildings
- Plain language technical summaries written for credit officers, with the full technical file behind them
How We Engage
- 1
Understand the facility, the collateral and the covenants you need evidence for.
- 2
Survey the vessel and review the records.
- 3
Report in credit committee language, dated and signed, with the technical file attached.
INDEPENDENCE
Where we stand
SolarisTech takes no position in the asset, earns nothing from the transaction closing, and does not broker sales or charters. SolarisTech maintains working relationships with classification societies and represents flag administrations internationally. Where either relationship could bear on an engagement, we disclose it in writing at scoping and, if you prefer, we decline the work. You should know who your reviewer is paid by before you rely on the report.
Outcomes
Our opinion is technical. Counterparty, ownership and flag screening is delivered as a technical and open source exercise: we do not provide legal sanctions advice and we do not issue clearance. Legal sanctions clearance, valuation, title and the credit decision remain with you and your advisers. Where portfolio monitoring uses Nautilux, the shore side dashboard is the platform's only off the shelf deployment, and the CII dashboard module is in development and not available today. Our reports are prepared for the party that instructs us and for the purpose stated in the engagement.
Reliance by any other party requires our written agreement.
YOUR REVIEWER
Thomas Blenk
American Bureau of Shipping, latterly Corporate Vice President, Global Marine Sectors. Deputy Commissioner of Maritime Affairs, Republic of the Marshall Islands.
Underwrite the steel, not the story.
Tell us the facility, the fleet and the drawdown date.