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Multi-Buyer Export Credit Insurance Exporters of U.S. goods and services can reduce their risk of selling on credit terms by insuring their export accounts receivable with Ex-Im Bank’s Short-Term Multi-Buyer Export Credit Insurance. The policy can help them increase their international sales by extending competitive credit terms while minimizing risks, and is valuable as a:
CoverageThis policy covers losses due to commercial reasons (such as bankruptcy and protracted default) and political events (such as war, revolution, seizure of goods, revocation of import license, and foreign exchange inconvertibility). Standard coverage is 95% of the invoiced amount. Two coverage options are available. The exporter's selection applies to their entire portfolio for the policy period: Coverage for approved, bulk agricultural commodities is 98%, and coverage for sovereign obligors is 100%. For an additional premium, the exporter may request pre-shipment coverage. This is valuable in cases where goods are special ordered, or there is a long manufacturing run prior to shipment. By selecting this extra option, the exporter locks in coverage conditions for a specified period of time (generally up to 180 days from contract signing). Pre-shipment coverage excludes contract cancellation risk. Endorsements for non-acceptance cover and other types of specialized cover are also available. Coverage Parameters
Premium Rates and PaymentsPremium rates are calculated based on several factors, including length of terms offered, buyer type, spread of country risk, transaction type, and previous export experience.
Credit Limits
Overdue Invoices and Filing Claims
Policy AssignmentsSubject to approval, policy proceeds (claim payments) may be assigned to a financial institution to arrange receivables financing or add insured foreign accounts receivable to the borrowing base. Page Updated: April 7, 2008 This is not a solicitation by the Export-Import Bank of the United States or its employees. It is a descriptive summary only. The complete terms and conditions of the policy are set forth in the policy, applications, and endorsements. |
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