Products & Policies | Ex-Im Bank Policies

Shipping Requirements (MARAD)

Ex-Im Bank's shipping regulations are subject to Public Resolution 17 of the 73rd Congress (PR 17), which indicates that in any loans made by Ex-Im Bank to support the export of U.S. made products a provision be made that such products be carried exclusively on U.S. vessels. The purpose of PR 17 is to support the U.S. strategic objective of maintaining a merchant marine sufficient to carry a substantial portion of its waterborne export and import foreign commerce.

The following transactions are subject to the provisions of PR 17:

1. Direct loans regardless of term or amount; and
2. Guarantees in excess of $20,000,000 (excluding Ex-Im Bank Exposure Fee) and the repayment period of greater than seven (7) years.

The following transactions are not subject to the provisions of PR 17:

1. Credit Guarantee Facilities, regardless of amount;
2. Short-term insurance, regardless of amount;
3. Medium-Term Insurance, regardless of amount or term;
4. Guarantees of up to $20,000,000 (excluding Ex-Im Bank Exposure Fee) and the repayment period of seven (7) years or less; and
5. Guarantees of up to $20,000,000 under the Environmental Exports Program, Transportation Security Export Program, or Medical Equipment Initiative, regardless of term.

Requests for Waivers of PR No. 17 may be submitted to the Maritime Administration, a branch of the U.S. Department of Transportation. Waivers can be obtained for a variety of reasons (e.g. if a U.S. vessel is unavailable or unsuitable, etc.). If a waiver is obtained, goods shipped on vessels of non-U.S. registry are eligible for financing by Ex-Im Bank.

Exports shipped by air are not required to be transported on U.S. airlines since the purpose of PR No. 17 is to maintain a viable merchant marine in the U.S.

• Maritime Adminstration (MARAD) issues waivers
• www.marad.dot.gov

Last updated: February 1, 2005