Bourque Industries Inc (BORK)

[iflyby]

When you say "draw" monies, I am assuming that you mean advance payments, progress payments, or milestone payments. We did negotiate advance payments and milestone payments in all of those negotiations. The State Department an DoD were intimately involved with the Colombian negotiation since they were funding the project.

Usually the foreign governments require a performance bond if there are advance or milestone payments. The performance bond can be 1 to 2.5 % of the contract price depending on the contractor's D&B rating. Additionally, the purchasing agency should provide a letter of credit to the contractor.