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MEMORANDUM OF UNDERSTANDING
U.S. Department of Commerce
&
Export Import Bank of the United States
FACT SHEET
On February 20, 2003, the U.S. Department of
Commerce (USDOC) and the Export-Import Bank
of the United States (Ex-Im Bank) signed a Memorandum
of Understanding (MOU) inaugurating an initiative
to simplify and expand access to financing programs
for U.S. exporters—especially Small-and-Medium-Size
Enterprises (SMEs)—seeking U.S. Government
(USG) advocacy assistance. This change will
encourage Commerce's Advocacy Center and the
Ex-Im Bank to coordinate their respective programs
more effectively in order to better serve U.S.
business interests competing in the international
marketplace.
This FACT SHEET outlines the interagency procedures
adopted to implement the subject MOU.
- When U.S. companies contact the Commerce
Department's Advocacy Center requesting USG
assistance in obtaining foreign contracts,
they will be informed of Ex-Im Bank financing
options and asked if they would like the Center
to refer their advocacy filing to Ex-Im Bank
for follow-on review of export financing options.
- On completion of review and as appropriate,
Ex-Im Bank may issue a Letter of Interest
(LOI) to the applicant company.
- With an Ex-Im Bank LOI in hand, a U.S. business
interest (particularly an SME) will have the
most competitive financing offer the USG can
provide—and perhaps a leg-up over competing
foreign firms—in the project or procurement
competition. Thus, the
original application for advocacy support
has provided a U.S. exporter with not only
appropriate USG intervention in the commercial
competition itself, but also a demonstrable
expression of USG interest in financing the
venture, e.g., leveraging USG advocacy on
behalf of U.S. business interests.
- The Advocacy Center and Ex-Im Bank will
maintain open communications on all referred
cases in an effort to ensure that referrals
are reviewed expeditiously and that an LOI,
if deemed appropriate, is supplied in a timely
manner.
As appropriate, the Advocacy Center and Ex-Im
Bank will explore expediting assistance to frequent
client firms. Please contact
the Advocacy Center at (202) 482-3896 for more
information on how to engage USG advocacy support
and Ex-Im Bank financing simultaneously.
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