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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:
The following transactions are not subject to the provisions of PR 17:
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.
Last updated: February 1, 2005 |
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