What Are the Type of Financial Securities You Can Submit on PRISMA?

Overview

As of 2022, PRISMA offers operators the possibility to subscribe to Capacity Management and Contract Management.

If one or more operators to which you have an assignment subscribe to these services, you will begin to submit Financial Securities for them directly on the PRISMA platform.

This article will explain what are the different types of financial securities you can submit.

To find the instructions on how to submit a financial security, please refer to How to Submit a Financial Security? 

Financial Securities on PRISMA

On the PRISMA platform, you will be able to choose among four types of financial securities:

1) Cash Deposit: in this procedure, you must deposit the designated monetary amount as financial security directly into the operator's bank account. The operator will approve your financial security once the deposit is received and processed.

2) Bank Guarantee: in this procedure, you must ask an approved bank to financially vouch for your company (be your guarantor) using a form provided by the operator. 

3) Rating: if your company has a credit rating of a certain level granted by an independent credit agency - e.g., Standard and Poor's - you may submit a proof of your rating as financial security.

4) Parent Company Guarantee: likewise, if your parent company has a certain credit rating recognized by an independent credit agency, you can use it as financial security by submitting the appropriate documents.

After you submit a financial security on the platform, you will see detailed instructions on how to proceed with each of these methods.