Eqaro Guarantees in strategic alliance with True Blue Assets Services Eqaro Guarantees to provide Surety for OEM financing

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Eqaro Guarantees, a pioneer in providing surety solutions in India, has today announced a strategic partnership with True Blue Assets Services, a Specialized Equipment Services Company engaged in Equipment Financing & Trading of new and pre-owned construction and mining equipment, commercial vehicles for project developers and contractors.

The partnership is aimed at forging an alliance and tie-up with Construction Equipment manufacturers and Financial Institutions to provide Residual Value Guarantee backed Loans and Leases to end customers, thereby bringing in a new paradigm in Equipment financing.

The strategic alliance will also provide an assured price buyback for Specific range of Equipment for the first time in India, that will provide the Customers a reliable and transparent assessment of risk and reduce their monthly outgo, thereby helping in deployment of new equipment for faster execution of Projects. The new construction equipment market is estimated to be around Rs 60,000 crore in 2022 and is key for rapid Infrastructure creation in the country.

Mr. Vikash Khandelwal, Chief Executive Officer, Eqaro Guarantees, said, “Residual value Guarantees provides guarantee on assets for their future value.We are delighted to partner with True Blue Asset Services. Our alliance will help the financing and leasing industry to progress beyond traditional offerings of construction equipment financing and leasing. Together both companies will create a new ecosystem for equipment owners.”

Mr. VV Ramana, Founder and CEO, True Blue Asset Services Private Limited, said, “This is a first of the kind alliance in India and will trigger the growth of e-market place for Pre-owned Equipment enabling liquidity and price protection. This will further help the Customers in structuring their Monthly EMI/Rentals and reassess risks for Financiers and result in incremental sales to OEM partners. This is possible because of Eqaro’s expertise in providing Sureties and Guarantees and True Blue’s Expertise in
the Equipment and Financing ecosystem “