By insuring the PF against some of the risks of ER non-delivery, our policies enable it to offer a higher level of project funding and/or better terms, because of the higher value that can be assigned to the ER security.
The PC’s owners may be required to provide Parhelion with various Representations and Warranties concerning their involvement with the Project.
Policies are not assignable. Premium is payable by the PF and is fully earned at inception.
Payment of claims is within 120 days of the contractual delivery date of the ER’s.
Policies initiated by a PF and any discussions relating to them are confidential and should not be disclosed to the PC without our prior approval.
We offer the following options:
1. Fixed value (agreed at inception)
2. Floating (market value at the date of scheduled delivery)
3. Replacement ER’s (or equivalent compliance instrument)
Policies incorporate appropriate deductibles, dependent on the interests of the Insured.
Pre-registration risks can be covered for the amount paid in advance to the PC for the ER’s.
(1) The PC’s owners or a Special Purpose Vehicle (“SPV”) may act as a silent party in the transaction (not shown in the diagram).