June 2012
In response to broker feedback, we are expanding the Express Insurance eligibility criteria effective immediately to include small business applicants having no more than 20 (formerly 10) existing export credit buyers after deducting those associated to our standard multibuyer policy exclusion transactions (L/Cs, cash, CAD, SDDP, Invoices under $10,000). Express policyholders will be allowed to submit up to 20 Special Buyer Credit Limit (SBCL) applications per policy period and receive complimentary credit reports towards SBCL buyer credit applications.
However, we will be vigilant to excessive or unusual demands where the exporter simply submits names and addresses without any evidence of undertaking any buyer development efforts. We also note that Ex-Im Bank has the right to quote an alternative multibuyer product other than the desired Express (where exporter is "eligible") should risk elements dictate. This would generally apply to exporter portfolios, industries or products of extraordinary high risk.
We hope this expansion will lead to even further success of Express Insurance. We have almost 300 current policies with 44 different insurance brokerage firms. Kudos to Meridian Finance Group, who is our top Express broker!
 The Export-Import Bank Reauthorization Act of 2012 was signed by President Obama on May 30!
The Act extends the Bank's
authority through 2014 and ultimately increases its portfolio cap to
$140 billion. Click here to see the signing ceremony. |
July Broker Trainings in DC and NY
The next Broker Training in DC will be on July 11, and registration is available on our website here. Any registered broker who attends the broker training (cost $99) will be eligible to attend the prior 2-day course "Trade Finance Solutions for Lenders and Exporters" at no charge (normal price $499).  | | We will be holding a Broker Training in downtown New York City on July 17 from approximately 10 am to 3 pm. Please let Amy Shinkman know if you are interested in attending. |
Registered, inactive brokers who not currently listed on our Active Broker List who attend an in-person training will be listed on the website again for a period of one year. Congratulations to Trade Acceptance Group, who were awarded the 2012 Broker of the Year Award at the Annual Conference on April 12! | |  |
Thank you to all who attended in person or called in to our annual broker conference on April 11. All the materials presented at the conference are available here.
Here is another re-cap of the 2 program changes announced by Walter Kosciow at the conference:
1) Commission Increases for New Small Business Multibuyer Policies with Working Capital Guarantee (WCG)
In response to broker feedback regarding the commission impact of the 25% premium discount we offer to exporters with Working Capital Guarantees (WCG), we are amending our broker commission schedule. Also, the 25% premium discount will also apply to exporters who participate in our Global Credit Express (GCE) pilot loan program.
Commission rates on new (not renewal) multibuyer policies issued to small business exporters on or after January 1 2012 which are benefitting from the 25% premium discount because they have a Small Business Administration (SBA) or Ex-Im WCG (including GCE) in place will increase to i) 50% for "Ex-Im Small" (annual average of export credit sales for the last 3 years is less than $7.5 million) small business exporters (current rate 40%), and ii) 20% for exporters that meet the SBA definition but are not Ex-Im Small (current rate 15%).
We are working on programming this change on Ex-Im Online, and we currently expect it to be implemented in time for July 2012 commission payments.
2) Waiving of Advance Deposit for SBA Exporters on Multibuyer Policies
We are waiving the Advance Deposit for all SBA exporters who purchase multibuyer policies. We hope this will spur acceptances through the remainder of this calendar year. If you have any outstanding quotes still requiring a deposit and would like to request that the Advance Deposit be removed, please submit a quote amendment via Ex-Im Online and wait for it to be approved before accepting the policy. We will not be refunding any previously paid deposits as part of this incentive. 
Sandra Donzella, based in San Diego, who has been underwriting Trade Credit Insurance for the Western region since January 2011, has formally joined Trade Credit Insurance as a Relationship Manager reporting to Christine Gerges. Sandra joined Ex-Im Bank in 2001 as a Business Development Officer, after spending
7 years in international banking. Congratulations to Sandra!
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 | | Couldn't attend the Ex-Im Bank Annual Conference?
Highlights are available here. |
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