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We Listened
12.15.15: Changes to the New Exporters Certificate
Thank you to the lenders and exporters who shared their ideas on how to improve the exporter certificates for our medium- and long-term programs. Thanks to your input, we made two changes:
1. The debarment language has been changed to clearly state that, in order to be compliant with the certification, exporters are responsible for checking only their own direct suppliers and vendors.
2. The certifications were moved to an outside document that is maintained on EXIM.gov. This change allows us to keep our certifications current. Take a look at the new form here: //www.exim.gov/sites/default/files/forms/eib11-05.pdf
As always, we appreciate our customers’ feedback and hope these changes help to improve the ease of doing business for our customers.
Cycle Times
EXIM works with and listens closely to its customers and partners to better meet their needs and deliver on the promise of offering “government at the speed of business.” Transaction processing times are an important standard toward that goal—a quantifiable, measurable way of monitoring how efficiently EXIM is serving its customers against its performance goals. The following chart outlines average cycle times, from application to decision, for EXIM’s major products and claims for FY2015.
Term |
Product |
FY2015 Average Days from Application to Decision |
FY2014 Average Days from Application to Decision |
Short-Term |
Express Insurance |
13 |
11 |
FB |
45 |
50 |
|
Multi-buyer |
21 |
18 |
|
Short-term single buyer |
14 |
16 |
|
Working capital delegated authority |
24 |
19 |
|
Medium-Term |
Medium-term loan guarantee |
81 |
82 |
Medium-term insurance |
51 |
52 |
|
Long-Term |
Long-term loan guarantee |
158 |
147 |
Long-term loan |
181 |
295 |
|
Project finance |
757 |
321 |
|
Claims |
|
45 |
44 |
For more information on EXIM's cycle time service standards and targets please refer to EXIM's Government Performance and Reporting Act reports.
While processing times vary according to the product, dollar amount, and complexity of the transaction or claim, the best way to ensure that an application is handled in a timely fashion is to provide a complete and technically correct application. Slowdowns will occur if EXIM's staff needs to reach out to customers to obtain more information about their business or transaction. For most programs, a minimum amount of information is necessary for EXIM's team to begin work.
Tips for Submitting and Expediting Applications
Customer FAQs about working with EXIM
I own a small business. How do I know if my business qualifies for EXIM insurance and/or loan guarantee products?
The following are a few general guidelines for qualifying for EXIM support:
- You must have been in business for at least three years.
- Products/services must comply with EXIM's Content, Military, and EXIM Policies.
- Products must be shipped from the United States.
- Destination countries must be eligible for EXIM-supported transactions (refer to EXIM's Country Limitation Schedule).
- You must be able to provide financial statements or tax returns for at least one year.
If your business and products meet the general guidelines, you are encouraged to contact a regional office for further counseling.
I own a small business. How do I start an application for export credit insurance?
Export-ready applicants are strongly encouraged to begin by seeking assistance from either an export finance manager at one of EXIM's field staff offices or an EXIM qualified insurance broker. Brokers provide a number of valuable services to existing and prospective customers, and they receive their compensation from commissions paid by EXIM—there is no charge to the policyholder. Application forms are located here.