Contract Price of Transaction Maximum
less than $80,000 two
$80,000 - less than $175,000
$175,000 - less than $350,000 four
$350,000 or more five
Sales to dealers or others for resale are limited to
maximum credit terms of two years.
PREMIUM RATES AND PAYMENT
All policies require premium payment by the last business
day of the month immediately following each insured shipment
or funding for financial institutions. Premium is calculated
on the financed portion of the medium-term shipments made
during the period.
Applicants may obtain a non-binding rate indication by
referring to the Exposure Fee Calculator at Ex-Im Bank's
Internet Homepage or by contacting the Business Development
Division with specifics of the contemplated transaction.
Changing conditions may result in a different rate being
finally offered than is initially indicated. However,
premiums specified by Ex-Im Bank in writing are firm.
The interest rate insured on medium-term transactions
is 100 percent of the rate provided in the note. To be
covered, post-maturity interest must be stipulated by
the insured in the promissory note. Post maturity interest
is covered at the original note rate. Coverage of interest
charges may extend to the date of claim payment, or 150
days, whichever is earlier.
OVERDUES AND CLAIMS
Insureds must report all buyers which fall into default
within 30 days of the default and on a monthly basis,
form EIB92-28. In all cases, these monthly reports of
overdues situations should continue for as long as the
overdues exists, or until a claim is submitted.
When claims are submitted, copies of all documents pertaining
to the transactions, such as invoices, bills of lading,
promissory notes and guarantees, must be forwarded in
conjunction with the proof of loss form, EIB92-26, for
There is a 30-day waiting period after the date of default
before a claim can be filed. The latest date for filing
any type of claim is 150 days after the date of default.
INFORMATION REQUIRED FROM
Applicant information. A completed application, form
EIB03-02, is required. If the applicant is other than
the exporter or suppler, such as a financial institution,
then information on the exporter and supplier is required.
Buyer information - The applicant must also provide information
about the buyer and guarantor, if any. In general, the
following guidelines apply: