Apply | Online Services

Medium-Term Electronic Compliance Program

Ex-Im Bank's Operations Division "OPS" has developed an exciting and innovative Medium-Term Electronic Compliance Program (ECP) which greatly improves the efficiency and turnaround time in approving disbursements.

The ECP is a web-based certification system for Ex-Im Bank approval of disbursements under the medium-term guarantee program. The Lender is responsible for collecting and reviewing all required disbursement documentation and inputting key information obtained from its review on a secure web-site checklist. The checklist is transmitted via Internet to Ex-Im Bank where it will be reviewed for completeness and compliance by OPS staff. Once the request has been approved Ex-Im Bank issues an approval electronically on a secure website. OPS no longer collects or reviews medium-term disbursement documents, issues Guarantee Certificates, or endorses medium-term promissory notes with Ex-Im Bank's guarantee legend.

All Lenders under the new Medium-Term Guarantee Agreement are required to use the ECP.

Frequently Asked Questions
The following questions and answers should respond to most of your questions about the ECP.

Who can participate in the ECP?

All lenders that apply for a Medium-Term Guarantee must use the ECP. Ex-Im Bank will not approve a Medium Term transaction unless the lender has a signed, effective Master Guarantee Agreement (Medium Term Credits - Electronic Compliance Program).

What programs will be covered under ECP?

All medium-term guarantees. For now, it will not cover Credit Guarantee Facilities.

What disbursement documents are needed to complete the checklist?

An invoice, Exporter's Certificate, evidence of payment and shipping documents.

How is Exposure Fee paid under the ECP?

Under the ECP, only wire transfers are acceptable.

How is data on the checklist transmitted via Internet kept confidential?

Ex-Im Bank uses state of the art encryption and application security similar to that used by financial institutions and stock brokerage firms which provide products and services over the Internet.

What happens if the lender makes an inadvertent error on the checklist?

If a lender fails to comply with any of its obligations under the Medium-Term MGA (including accurate completion of the checklist), Ex-Im Bank may suspend the lender from further participating under the Medium Term guarantee program. As with the prior guarantee program, Ex-Im Bank also has a right of indemnification from a lender if Ex-Im Bank is harmed by such lender's errors.

Who retains the disbursement documents?

The lender must retain all disbursement documents for the transaction for a period of ten years after the last repayment date. Ex-Im Bank reserves the right to request the disbursement documents from the lender at any time.

What documents are needed in the event of a claim?

Ex-Im Bank's claim procedures have not changed as a result of the ECP. We will not require the disbursement documents to process claim payment. However, as noted above, Ex-Im Bank reserves the right to request the disbursement documents from the lender at any time.

What type of audit procedures are planned?

Ex-Im Bank will conduct random audits of the disbursement documents and compliance with ECP procedures either by requesting that the disbursement documents be sent to Ex-Im Bank or by on-site visits to the lenders.

Does the ECP change Ex-Im Bank's guarantee?

No. As under the prior Medium-Term guarantee program, once a disbursement is approved, the disbursement is guaranteed by Ex-Im Bank.

Whom should I contact if I have questions?

If you have questions with respect to transactions that are not yet operative, contact the credit officer assigned to the transaction. Once the credit is operative, all disbursement questions should be addressed to the assigned OPS officer. Questions concerning amendments to an operative transaction (i.e. increase/decrease, change of final disbursement date, etc.) should be directed to the Asset Management Division.

Can I Still use Private Export Funding Corporation under ECP?

Yes. You must complete a PEFCO Master Note Purchase Agreement as modified for the ECP. The Agreement can be found on the ECP Home Page.

Operations
(202) 565-3470