Miles Morgan Australia
Miles Morgan Australia provides research, policy and consultancy services, predominately to government organisations.
Need
After winning a contract to design the policy framework, national quality standards and a governance model for the new career education and development ecosystem in Saudi Arabia, Miles Morgan Australia was required to provide a bank guarantee to back performance.
Solution
Our performance bond meant that Bankwest was able to issue a guarantee to the Saudi Bank, which, in turn, issued the bank guarantee to HRDF and meant Miles Morgan Australia was able to secure the contract.
Perth-based SME Miles Morgan Australia was established in 1997 and provides research, policy and consultancy services, predominately to government organisations.
A key area of Miles Morgan Australia’s focus is on providing career development and transition support, vocational education and training, and occupation and career profiling services.
Miles Morgan Australia has undertaken many projects in Australia that have helped advance Australia’s career development frameworks and quality standards.
The support we’ve received from Export Finance Australia and Austrade has been exceptional. Cash flow is critical when you’re a small business like ours, so the bond assistance has been invaluable.
Barbara Macnish
CEO, Miles Morgan Australia.
A first export contract
In Saudi Arabia, foreign nationals make up a significant proportion of the workforce.
Recognising that this isn’t sustainable in the longer term, the Saudi Ministry of Labor and the Human Resources Development Fund (HRDF) initiated a project to encourage Saudi nationals into more diversified career pathways.
After an international search, Miles Morgan Australia won a contract to design the policy framework, national quality standards and a governance model for the new career education and development ecosystem.
How we helped
Under the contract, Miles Morgan Australia was required to provide a bank guarantee to back performance under the contract, which had to be issued by a Saudi bank.
To facilitate that outcome, Bankwest relied on our performance bond to issue a guarantee to the Saudi bank, which in turn issued the bank guarantee to HRDF.
Given the small size of the bond required and the challenging nature of the export market involved, we were pleased to have been able to support this important international public policy project.
Miles Morgan Australia is now pursuing other export opportunities within Saudi Arabia and elsewhere in the Gulf.